dithering for over a year, the government decided that the three government
owned Major Ports, Paradip,Visakhapatnam and New Mangalore will acquire
controlling stake in Dredging Corporation of India (DCI. The Shipping Minister
Nitin Gadkari announced the decision after a review of the port sector he had
with chairmen of twelve major ports here last week.
that DCI would undergo modernization of its operations and would be involved in
the inland waterways space. The corporation which owns dredgers is involved in
both capital and maintenance dredging in major and minor ports of the country.
2017, the Cabinet Committee on Economic Affairs had approved strategic
disinvestment in DCI, along with transfer of management control. The government
holds 73.47 per cent of the paid-up equity in the company, reports added.
unions of the state owned corporation based in Visakhapatnam opposed the
disinvestment move and handing it over to the private sector. It has taken the
government more than a year to decide that the controlling stakes of the
company will rest with three major ports.