The Union Cabinet, on 08 Nov,
approved strategic sale of govt stake in Dredging Corporation of India (DCIL) to
a consortium of four ports namely; Vishakhapatnam Port Trust (VPT), JNPT, Paradeep
Port Trust and Kandla Port Trust. The government currently holds 73.39 percent
in DCIL. The Cabinet Committee on Economic Affairs (CCEA) gave in-principle
approval for strategic divestment of 100 per cent GoI’s share in DCIL to the consortium
which will further facilitate the linkage of dredging activities with the ports
and augment the expansion of dredging activity in the country as well as
potential diversification of ports into third party dredging. As against the govt’s target of
raising Rs 80,000 crore from PSU divestment this fiscal it has mopped up over
Rs 15,000 crore only from PSU stake sale.
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DCIL divestment; Cabinet clears strategic sale
By IndianMandarins - 2018-11-09 09:43:35
The Union Cabinet, on 08 Nov,
approved strategic sale of govt stake in Dredging Corporation of India (DCIL) to
a consortium of four ports namely; Vishakhapatnam Port Trust (VPT), JNPT, Paradeep
Port Trust and Kandla Port Trust. The government currently holds 73.39 percent
in DCIL.
The Cabinet Committee on Economic Affairs (CCEA) gave in-principle approval for strategic divestment of 100 per cent GoI’s share in DCIL to the consortium which will further facilitate the linkage of dredging activities with the ports and augment the expansion of dredging activity in the country as well as potential diversification of ports into third party dredging.
As against the govt’s target of raising Rs 80,000 crore from PSU divestment this fiscal it has mopped up over Rs 15,000 crore only from PSU stake sale.
