Due diligence for Kohinoor Oil Mills Limited (KOML) has been completed following the first pre-bid conference held on March 24. The second pre-bid meeting would now be held at the Privatisation Commission on April 13.
Out of 19 parties, which submitted expressions of interest (EoIs), 16 participated in the first round. It was decided during the first round that the bidding date for pre-bid meeting would be decided in the second round in consultation with the bidders.
The liabilities owed to the government up to the date of transfer of the transaction would not pass on to the successful buyer.
KOML is situated on land measuring approximately 62.2 acres on main G.T. 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 vegetable ghee plant has a capacity of producing 27,200 tonnes and solvent extraction plant has annual rated capacity of 33,000 tonnes. Unlike other ghee mills, the unit has seed handling/crushing equipment as well as solvent extraction plant, which was closed down in 1995, while the ghee manufacturing unit was shut down in 1997.
The parties which submitted (EoIs) 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, Muhammad Humayun, Islamabad, A. A. Enterprises, Karachi, Bara Ghee Mills, Bara, Bismillah Textile Limited, Faisalabad, Kohinoor Sugar Group, Lahore, Afzal Motors, Peshawar, Hussain Cotex Ltd, Lahore, Tahir Omer Industries (Pvt) Ltd, Muridke, Ayub Brothers, Lahore, Arch Sons, Karachi, Kohisar Enterprises, Karachi and Sartaj Roller Flour Mills, Lahore.