The Pakistan Privatisation Commission is holding a pre-bid meeting in Islamabad for sale-of 96.34 Javedan Cement Limited (JCL) shares on September 3. The meeting is meant to give the bidders better understanding of the transaction and the bidding process. The commission has received 43 expressions of interest (EoIs) from interested parties for JCL sell-off on an "As is where is" basis, through the sale of 96.34 percent shares held by State Cement Corporation of Pakistan (Pvt) Limited (SCCP).
JCL is a public limited company listed on Karachi Stock Exchange since 1962 and registered under the Companies Ordinance 1913 (now Companies Ordinance 1984). JCL is located north of Karachi over an area of 1200 acres in the Manghopir hills along with 3159 acres of Mining lease land (Quarry). The company started production of cement in 1964 with 500 tonnes per day capacity and currently the rated capacity of the plant is 600,000 tonnes per annum. The plant is based on the latest technology of cement manufacturing involving suspension pre-heater and short dry process kiln. Presently, JCL has three kilns including the first dry process plant installed in Pakistan in 1980. Its main products include Ordinary Portland cement, Slag cement and Sulphate resistant cement.
The companies which submitted eois included: AKD Capital Limited; Al-Abass Group of Companies; Al-Hamza Ship Breaking Company; Al-Karam Textile Mills (Pvt) Ltd; Alloy Steel Company; Al-Munaf Steel Corporation; Alpha Gamma Technologies Inc; Amer Mahmood (Snr Manager Fin); Aqeel Karim Dhedhi Securities; Associated Group; Atlas Investment Bank Ltd; Bestway Cement Ltd; Candyland Confectionery Division; Cherat Cement Company Ltd; Crescent Powertec Ltd; D.G.Khan Cement Company Ltd; Equipment Technologies Ltd; Fatima Enterprises Ltd (Textile Unit); Gulistan Group of companies; Habib & Sons (Pvt) Ltd; Haji Ghani Usman & Group; Javed Kiyani (Director Chanar Sugar Mills); Javedan Cement Employees Management Group; Multi Traders & Manufacturers; Nassam Multi Links; Newage Textile Pvt Ltd; Noman Abid & Company; Olympia Chemicals Ltd; Pacific Chartering & Trading Pvt Ltd; Pakistan Kuwait Investment Company Pvt Ltd; PROCON (The Project Consultant); Sadaf Enterprises; Seatrade Group; Shirazi Investment Pvt Ltd; Siddiqsons Group; Silver Textile Factory; Sophia Textile Pvt Ltd, Suzuki Carvan Motors; The Memon Group; Three Star Group of Companies; Unique Trading Co (Importers & Ship Breakers); Usman Enterprises and Valibhai Kamruddin (S1ND) (Pvt) Ltd.