Four parties are in the run for Javedan Cement Limited’s (JCL) 96.34 percent shares with management control, as the Privatisation Commission announced its bidding schedule for Wednesday (September 14). The parties are Haji Usman Ghani group, Siddique Sons, Al Munaf group and Valibhai Kamaruddin Sindh (Pvt) Limited.
Sources told Business Recorder that each of these four parties have deposited Rs 75m earnest money to reserve a seat for the bidding.
JCL is located north of Karachi over an area of 1200 acres on Manghopir hills along with 3159 acres of mining lease land (Quarry). The company started production of cement in 1964 with 500tpd capacity, and currently the rated capacity of the plant is 6,007,000tpa.
Presently JCL has three kilns, including the first dry process plant installed in Pakistan in 1980.