ISLAMABAD: The Privatisation Commission (PC) has invited expression of interest (EoI) from prospective investors, industrial companies and groups, consortium of investors with demonstrable ability to own, efficiently manage and operate Heavy Electrical Complex (HEC) through acquisition of 88 percent shares on ‘as is, where is’ basis.
The successful bidder shall continue to operate HEC’s manufacturing facility. Twelve percent shares of HEC are allocated for its employees through Benazir Employees Stock Option Scheme (BESOS).
The interested parties have been asked to submit EoIs (in duplicate) together with a non-refundable processing fee of $5,000 or Rs 425,000 payable in the form of a bank draft(s) or pay order(s) in favour of ‘PC, clearly providing the information like name of company/group and its background information, details of ownership/group structure along with copies of Computerised National Identity Card (CNIC)/passport numbers of the directors/partners, name, address, telephone, mobile, fax, email of the authorised focal person to be contacted latest by May 20, 2011 during official working hours.
Interested parties have also been advised to submit EoIs as early as possible, enabling PC to dispatch or email the Request for Statement of Qualification (RSOQ). The last date for submission of Statement of Qualification (SoQ) is June 11, 2011. All the parties, which shall submit EoI, would be sent RSOQ for response, which shall form the basis of pre-qualification. Information memorandum, bid documents and time frame for the pre-bid conference and bidding date will be provided to pre-qualified parties only.
HEC is one of the industrial units of State Engineering Corporation engaged in the manufacturing of power transformers of different types (total annual capacity 3,000 MVA) with primary voltage rating of 66 and 132 KV. In addition, HEC undertakes repairs and refurbishment of old and damaged power transformers up to 500 KV. HEC was incorporated as a private limited company in 1991 and commenced commercial operations in 1997. HEC is located in Hattar Industrial Estate about 65 kilometres from country’s capital Islamabad.
HEC has six main manufacturing shops - Machine, Winding, Insulation, Core, Fabrication and Assembly. In addition HEC has an oil purification shop, high voltage test laboratory equipped with overhead travelling cranes. HEC can diversify its manufacturing range by including other products such as instrument transformers, high voltage circuit breakers and other grid stations equipment for meeting demand of the products in domestic and foreign markets.
Source: Daily Times
