GOVERNMENT OF ORISSA
DEPARTMENT OF PUBLIC ENTERPRISES
INVITATION FOR “EXPRESSION OF INTEREST”
FOR SALE OF GoO’s
HOLDING IN
IDCOL FERROCHROME & ALLOYS LTD. (IFCAL)
(This announcement is neither a prospectus
nor an offer or invitation to the public for sale of securities.)
Government of Orissa, (GoO) intends
to disinvest 100% of the equity in IDCOL Ferrochrome & Alloys Ltd.(IFCAL), held by
Industrial Development Corporation of Orissa Ltd.(IDCOL),
GoO owned entity. Adam Smith Institute is advisor to GoO for Public
enterprise Reforms.
The Industrial Development Bank of
India(IDBI) has been appointed as Advisers to assist the GoO in the divestment of IFCAL.
IFCAL is predominantly in the
business of manufacturing and selling High Carbon Ferro Chrome(HCFC) for which it has a
manufacturing facility at Jajpur Road(District Jajpur), Orissa, India with an installed
capacity of 19,000 MT per annum. For sourcing raw material, the company operates a captive
chrome ore mine at Tailangi in the Tehsil of Sukinda. The company has a good record of
labour relations and is well recognized for its product quality.
Additional information on IFCAL,
including the copy of the Preliminary Information Memorandum (the PIM) can be accessed at
the website www.idcorissa.com or
www.orissagov.nic.in/pe/pe.htm or can be
obtained at the following address: The Chief General Manager, Corporate Advisory
Services Department, Industrial Development Bank of India, ‘IDBI TOWER’, 14th
Floor, WTC Complex, Cuffe Parade, Mumbai –
400 005, INDIA, (Fax:+91-22-218 1195).
Interested party(ies),
either individually or as a consortium, may submit their Expression of Interest(EOI)
alongwith a Request for Qualification (RfQ) and a Statement of Legal Capacity and other
related documents in the format specified for the purpose in the PIM so as to reach the
designated official specified in the PIM before
17.00 hours on December 10, 2002.
This announcement is neither a prospectus nor an offer
or invitation for sale of equity shares or any securities to any institution/public. The
GoO
as well as IFCAL, IDCOL reserves the right to withdraw from the process or any part
thereof, to accept or reject any or all offers at any stage of the process and/or modify
the process or any part thereof or to vary any terms at any time without assigning any
reason whatsoever. No financial
obligation, whatsoever, shall accrue to GoO or IDCOL or IFCAL, in such an event. Neither GoO, IDCOL , IFCAL nor IDBI shall be
responsible for non-receipt of correspondence sent by post/courier/e-mail/fax.
GOVERNMENT OF ORISSA
DEPARTMENT OF PUBLIC ENTERPRISES
INVITATION FOR “EXPRESSION OF INTEREST”
FOR SALE OF GoO’s
HOLDING IN
IDCOL FERROCHROME & ALLOYS LTD. (IFCAL)
The Government of
Orissa (GoO) intends to disinvest 100% of its equity in favour of a Strategic Investor in
IDCOL Ferochrome & Alloys Ltd. (FCAL) held through Industrial Development Corporation
of Orissa Ltd., the wholly owned holding company of GoO.
Expression of interest (EoI) from
reputed National & International firms is being invited to participate in the
disinvestments process. Interested party(ies) may obtain detailed advertisement along with
the Preliminary Information Memorandum “the PIM”
from the Website of
www.idcorissa.com
or www.orissa.gov.in/pe/index.htm .
The last date for receipt of EoIs is
17.00
hours on December 10, 2002.
This announcement is neither a
prospectus nor an offer or invitation for sale of equity shares or any securities to any
institution or public.