Privatization of Heavy Electrical Corporation: Three Expressions of Interest received

ISLAMABAD: Privatisation Commission (PC) has received three Expression of Interest (EOI) for the privatisation of 88 % shares of Heavy Electrical Corporation (HEC) on ‘as is where is’ basis. 12% shares are allocated for employees of HEC through Benazir Employees Stock Option Scheme (BESOS).

Request for Statement of Qualification (RSOQ) has been dispatched to the parties who have submitted EOIs to form the basis of pre-qualification, which will be received latest by July 02, 2011. Information Memorandum, Bid Documents and Time Frame for the Pre-Bid Conference and Bidding Date will be provided to pre-qualified parties only.

The three parties include Niagara Mills (Pvt.) Ltd. Faisalabad, AREVA T&D Pakistan (Pvt) Ltd Karachi and ALSTOM Grid Pakistan (Pvt.) Ltd. France. The successful Bidder shall continue to operate company’s manufacturing facility as going concern.

HEC is one of the industrial units of State Engineering Corporation engaged in the manufacturing of power transformers of different types (total annual capacity 3000 MVA) with primary voltage rating of 66 and 132 KV. In addition, HEC undertakes repairs and refurbishment of old and damaged power transformers upto 500 KV.

HEC was incorporated as a private limited company in year 1991 and commenced commercial operations in year 1997. HEC is located in Hattar Industrial Estate about 65 Km from country’s capital Islamabad.

HEC has six main manufacturing shops namely Machine shop, Winding shop, Insulation shop, Core shop, Fabrication shop and Assembly shop. 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.

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