Privatisation Commission held pre-bid conference for Kohinoor Oil Mills Limited sell-of here on Wednesday. The commission has offered 51 percent shares on 'as is where is' basis.
16 parties had turned around for the pre-bidding phase of the transaction. The commission had received 19 expression of interest (EoIs) for the transaction.
The liabilities owed by the government up to the date of transfer of this transaction will not be passed on to the successful buyer.
The investors who have already submitted their EoIs in response to the earlier invitation in August 2003 were not required to apply again as they have been automatically included in the list of applicants.
Komal is situated on land measuring approximately 62.2 acres on main GT Road, Kala Shah Kaku, Tehsil Ferozewala, district Sheikhupura. It was converted into public limited company in 1971 and nationalised in September 1973. All employees of the unit were paid VSS/GHS in 1997.
The mills has capacity to produce 27,200 tonnes and solvent extraction plant has annual rated capacity of 33000 tonnes.
Bidding documents along with information memorandum have already been provided to prospective bidders who have submitted the EoI by due date.
The parties which turned around for the pre-bidding included Al-Hamza Ship Breaking Company, Karachi; Petrosin Engineering Pvt Ltd Islamabad; Canal Associates, Lahore; Sardar Muhammad Ashraf D. Baluch Pvt Ltd Karachi; Lilly International (Pvt) Ltd Islamabad; Treet Corporation Ltd Lahore; Hashoo Group, Islamabad; M/s Muhammad Humayun, Islamabad; A.A. Enterprises, Karachi; Bara Ghee Mills, Bara; Bismillah Textile Limited, Faisalabad; Kohinoor Sugar Group, Lahore; Afzal Motors, Peshawar; Husnain Cotex Ltd Lahore; Tahir Omer Industries (Pvt) Ltd Muridke; Ayub Brothers, Lahore; Arch Sons, Karachi; Kohisar Enterprises, Karachi; and Sartaj Roller Flour Mills, Lahore.