The Privatization Commission (PC) has invited Expressions of Interest (EoIs) by April 30 from prospective investors (who can demonstrate their ability to own, efficiently manage and operate the company) for acquisition of a minimum 90% shares of the Heavy Mechanical Complex (HMC) together with management control on “as is, where is” basis.

Investors interested in joining the process have been asked to submit EoI together with a non-refundable processing fee of $5,000 or Rs 300,000 by April 30. Preliminary information on the HMC is available on the web site: www.privatisation.gov.pk Information memorandum, bid documents and timeframe for the pre-bid conference and bidding date will be provided to pre-qualified parties only.

The HMC is the country’s pioneer heavy engineering concern having the capability for designing, engineering and manufacturing of capital machinery, industrial plant equipment and other engineering goods. It is located in the prime industrial hub at Taxila, 35kms north of Islamabad. The Mechanical Works commenced commercial operations in 1971 whereas Foundry & Forge Works started production in 1978. Both the works were, however, merged in 1989.

The facilities include fabrication, machining, foundries, forging, heat treatment, galvanizing & auxiliary shops. A well-established design centre with CAD/CAE facilities is also available. The products of HMC conform to international quality standards. The HMC has been authorized to use four ASME stamp codes for boilers, pressure vessels, pipings, etc.

The company is ISO-9001 certified. The company’s product mix covers sugar and cement plants, chemical/petroleum, oil/gas processing plants, thermal power plant equipment, mini and micro hydel power plant equipment, road construction machinery, railway equipment, overhead electric travelling cranes, boilers, pressure vessels, heat exchangers, heavy to medium iron & steel castings, steel billets, heavy to medium free as well as closed die forgings.

As a result of sustained improvement in Pakistan’s macro-economic environment, the demand for capital machinery and heavy equipment in the country is growing.

The operational flexibility of plant machinery installed at the HMC and its state-of-the-art design and engineering capabilities thus allow diversification of activities of the company to cover industry, power, water, energy, agriculture and infrastructure sectors, meeting specific domestic and export requirements.