JK Cement Sale, Govt Invites Proposals For Complete Disinvestment

SRINAGAR: The Jammu and Kashmir administration has issued global invitation for comments on draft request for proposal (RFP) for the complete sale of Jammu and Kashmir Cements Limited.

Jammu and Kashmir Cements Limited (JKCL) is a fully government owned company under the Administrative Control of Department of Industries and Commerce, Government of Jammu and Kashmir.

According to the advertisement notice issued by Principal Secretary to the Government Department of Industries and Commerce it is engaged primarily in the manufacture and sale of cement. Jammu and Kashmir Cements Limited (JKCL) has 1200 Ton per Day (TPD) of installed integrated cement manufacturing facility in Khrew, Pulwama and a 300 Ton Per Day (TPD) grinding unit in Samba.

Inheritance on Sale

The company also has access to a Limestone Mine in Khrew. The Government of Union Territory of Jammu and Kashmir (UTJK) intends for complete sale of Jammu and Kashmir Cements Limited, by way of strategic disinvestment of the equity shareholding of Government of UTJK (100%) in its undertaking the Jammu and Kashmir Cements Limited (JKCL), along with full management control, reads the advertisement notice issued by Principal Secretary to the Government Department of Industries and Commerce.

“This disinvestment process is being implemented through competitive bidding route. A Preliminary Information Memorandum (PIM) along with draft RFP can be downloaded by interested bidders from the websites of Department of Industries and Commerce, Jammu and Kashmir at http://jkindustriescommerce.nic.in/,” it reads.

“Interested Bidders who meet eligibility criteria mentioned in the PIM may provide their comments on the draft RFP. Post the receipt of comments from interested bidders, the Government of UTJK would issue a Final RFP to invite bids from the interested bidders,” it added.

“Interested Bidders need to submit their comments in electronic form via email on [email protected] Moreover, in order to get access to Final RFP and Virtual Data Room, the interested bidders would be required to submit a Tender fee of amount INR 10,00,000 + GST as applicable) (Indian Rupees Ten Lakhs + applicable GST) through NEFT and sign a confidentiality agreement,” reads the notice.

Critical Dates:

Start Date for availability of RFP and PIM on website: 12th November, 2022

Start Date for submission of Comments: 12th November, 2022

Last date for submission of comments on draft RFP: 28th November, 2022 till 17.00 hours

The issuing authority reserves the right to accept or reject any or all of comments without assigning any reasons.

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