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Privatisation Commission is all set to hold bidding for the privatisation of
minimum of 90% shares of Hazara Phosphate Fertilizers Ltd (HPFL) on Monday
June 18, 2007 at the Privatisation Commission Conference Hall, Islamabad at 11
a.m.
PC had received eight (8) Expression of Interest and Statement of
Qualifications from interested parties/ investors to participate in the
privatisation process of Hazara Phosphate Fertilizers Ltd (HPFL). The
Expressions of Interest was invited from prospective investors (fertilizers
companies, industrial companies and groups, investors / consortium of
investors who can evidence their ability to efficiently manage and operate the
company) for the privatisation of minimum of 90% shares of Hazara Phosphate
Fertilizers Ltd (HPFL) located at Haripur (NWFP) – 75 km from Islamabad. The
factory is situated on 57 acres on developed land and includes factory,
housing and other amenities.
Two parties have become eligible after depositing the earnest money within the
stipulated period which include 1.FARM FERTILIZER (PVT) LIMITED Lahore and 2.
PAK STEEL Re-Rolling Mills, Islamabad.
The conditions which shall be applicable to the Successful Bidder include the
Purchaser shall continue to operate company’s manufacturing facility and shall
not in any way abandon, cease to operate or otherwise shutdown the existing
Company manufacturing facility, the cost of Golden Hand Shake Scheme (GHS) for
permanent workers and Voluntary Separation Scheme (VSS) for the permanent
executives will be shared equally between the new buyer and the Privatisation
Commission and the bidder shall bid on the basis of audited accounts of June
2006 or the latest audited accounts available and may also factor the latest
un-audited accounts available prior to the bidding. Information Memorandum,
Bid Documents, and a tentative time frame for the process will be provided to
pre-qualified parties only. All matters including terms, conditions,
warranties, indemnities relating to the privatisation process shall be
communicated to all Qualified Bidders from time to time prior to the Bid Date.
National Fertilizer Corporation of Pakistan Limited (NFC) owns Hazara
Phosphate Fertilizers Ltd (HPFL). It is an unlisted public company registered
under the Companies Ordinance 1984. The authorized share capital comprises of
20 million ordinary shares of Rs. 10/- each whereas the issued, subscribed and
paid up shares are 19.143 million of Rs. 10/- each i.e. Rs. 191.432 million.
HPFL produces Granular Single Super Phosphate (GSSP). The Sulphuric Acid
required for the production of GSSP is also produced within the unit. The
plant was rehabilitated and re-commissioned in April 1999. The production
capacity is: Granular Single Super Phosphate (GSSP) 90,000 Metric Ton Per
Annum and Sulphuric Acid 30,000 Metric Ton Per Annum. The marketing of the
product is carried out by NFC’s subsidiary company, National Fertilizer
Marketing Limited (NFML).