ISLAMABAD: The Privatisation Commission (PC) arranged a roadshow in Lahore on Thursday for potential investors interested in acquiring the Heavy Electrical Complex (HEC), an entity of the federal government located at Hatter Industrial Estate, Haripur KP, accessible through Hazara Motorway.

Interested potential investors including M/s Jaffer Brothers, PEL, Waves/ Singer, IMS/Powerworld, AVS/Tapal, Transfopower, SAMIRA Textile, KE, ATL and Designs and Engineering Systems were briefed that HEC is the only entity in Public Sector which has capacity to make 70 heavy Power Transformers every year for all the DISCOs in Pakistan.

Ideally located and equipped with all the infrastructure including plant and machinery installed at 43 acres of land with 19 acres extra land available for expansion purposes.

The HEC also has the potential to make power and transmission Transformers for export with the injection of proper capital expenditure and better management.

The potential investors took keen interest in acquiring HEC and asked different questions which were properly responded by PC Team. Four local Investors have already submitted their Expression of Interest (EoI) whereas some more are expected from local and foreign investors by 9th February 2021 which is the last date for submission of EoIs.

The federal Minister for Privatisation conveyed appreciation to the potential investors for their interest in the transaction and reaffirmed the commitment of the federal government to reduce the losses of State owned entities and utilising the national resources for socio economic development of the country.

Copyright Business Recorder, 2021