x
Help Us Guide You Better
best online ias coaching in india
2018-11-09

Download Pdf

banner

Indian Economy
www.pib.nic.in

Cabinet Committee on Economic Affairs (CCEA)

Cabinet approves strategic disinvestment of 100% Govt. of India’s

equity in the Dredging Corporation of India Ltd. (DCIL)

Posted On: 08 NOV 2018 8:30PM by PIB Delhi

          The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi has given ‘in principle’ approval for strategic disinvestment of 100% Government of India's shares in DCIL to consortium of four ports namely, Vishakhapatnam Port Trust, Paradeep Port Trust, Jawahar Lal Nehru Port Trust and Kandla Port Trust.

          Presently the Government of India holds 73.44% shares in Dredging Corporation of India Limited. The approval will further facilitate the linkage of dredging activities with the ports, keeping in view the role of the DCIL in expansion of dredging activity in the country as well as potential scope for diversification of ports into third party dredging. The co-sharing of facilities between the company as well as ports shall lead to savings for ports.  This would further provide opportunities for larger investment in DCIL as integration with ports shall help ineffective vertical linkage in the value chain.

          The strategic disinvestment of DCIL shall be undertaken after conducting due diligence exercise by both the entities with the help of Advisors, appointed for the transaction.

****

AKT/NW/SH

         

 



(Release ID: 1552154) Visitor Counter : 373


END
© Zuccess App by crackIAS.com