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Govt initiates process for disinvestment in Dredging Corporation

Unmindful of the protests by the employees of the Dredging Corporation, government has invited Request for Proposals (RFP) for engaging an Asset Valuer for disinvestment in Dredging Corporation of India Ltd (DCI), a public sector company under the Ministry of Shipping.

As per a communiqué, the government is considering strategic disinvestment of its 100 per cent paid-up equity capital in DCI (presently 73.47 per cent of the total paid-up equity) through strategic sale with transfer of management control. For this purpose, the Ministry requires the services of a reputed Asset Valuer to carry out the valuation of the assets of DCI.

The broad scope of work for the Asset Valuer is to carry out market valuation of the marine assets (dredgers and ancillary crafts), land and buildings, furniture and fixtures, civil infrastructure like roads, drains, compound wall, etc., and plant and machinery, including electrical, stock inventory of spares in stores, etc. on an "as is where is basis". The valuation is to be done keeping in view the objective of disinvestment and would be changed if there is a change in the objective, the communiqué said.

Subsequent to the pre-bid meeting on December 29, 2017, the last date for receipt of RFP documents is January 10, 2018 at 1500 hours and they will be opened on the same day at 1530 hours, the communiqué added.

The union cabinet has cleared the disinvestment of the dredging corporation earlier this year.
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