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Govt plans to sell non-operational units of CCI

Press Trust of India  |  New Delhi 

The today said it is planning to sell off non-operational units of Cement Corporation of (CCI) as part of strategic sale of loss-making companies.

"As far as CCI is concerned, non-operating units of CCI are to be disinvested first as a part of strategic disinvestment of CCI," Minister of State for Heavy Industries and Public Enterprises Babul Supriyo said in a written reply to the


He said the inter ministerial group has identified five units for disinvestment in the first phase - Mandhar, Kurkunta, Bhatinda, Nayagaon, Charkhi Dadri.

The legal issues relating to Grinding Unit (DGU), Adilabad and Akaltara need to be sorted out, he added.

The process of appointment of Advisor, Legal Advisor and Asset Valuer has been started by CCI as per direction of the group, he said.

Niti Aayog has recommended for strategic disinvestment of Cement Corporation Of

To start with, all seven non-operating units and the non-commissioned unit of Bhatinda are to be divested first and thereafter disinvestment of operating units is to be taken up.

"The units being considered under disinvestment at present are closed and workers are not there. The amount expected as sale proceeds shall be known after asset valuation of non-operating units," he said.

Replying to a separate question, the minister said so far an amount of Rs 49.98 crore has been disbursed under different components of the scheme for the capital goods sector.

Under the Capital Goods Scheme, so far 14 proposals have been approved, he said.

"Out of these four pertains to Centre of Excellence for technology development by eminent institutions like Central Manufacturing Technology Institute, Indian Institute of Technology (IIT), Madras, PSG College of Technology, Coimbatore, Scientific and Industrial Testing and Research Centre, Coimbatore," he added.

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

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