** Sagar Sandesh print version ceases to be published from December 31, 2017. New look E-paper would be available from Jan. 1, 2018 onwards. free of cost.**

Cabinet approves strategic disinvestment of 100 per cent Govt. of India’s equity in DCIL

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 per cent shares in Dredging Corporation of India Limited (DCIL) valued at a little over Rs seven hundred crores as per current market prices of shares.

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.

The government has set a disinvestment target of Rs eighty thousand crores for the current financial year.

 

Disclaimer
Copyright © 2018 PORT TO PORT - Shipping Services Portal ( Sagar Sandesh ). All rights reserved.

Follow Us