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Sale of Entire Public Stake in DCIL

Delhi 

The Government has decided to sell off its entire public stake in Dredging Corporation of India Ltd. (DCIL). This decision aims to upgrade technology, improve capability, infuse capital to buy necessary dredgers/equipments and instill experienced professional management to optimize operations of the DCIL. The Department of Investment and Public Asset Management (DIPAM) has obtained approval of the Government to disinvest 100% Government of India Equity in DCIL in one go through two-stage auction process, with the advice of the Transaction Advisor.

This information was given by the Minister of State for Road Transport and Highways, Shipping and Chemical & Fertilizers Shri Mansukh L Mandaviya in a written reply in Rajya Sabha today.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 05 2018. 00:20 IST