Adani Ports in fray to pick up stake in Dredging Corp

Govt is planning to sell 51% stake in the mini-ratna PSU

Adani Ports and Special Economic Zone (APSEZ), largest in this sector among private players, would reportedly enter the fray for acquiring the government stake in Dredging Corporation of India (DCI), a mini-ratna public sector unit.

The government apparently wishes to sell a 51 per cent stake; it has 73.47 per cent in the dredging major, which posted an 82 per cent drop in net profit for 2016-17. APSEZ has a fleet of 19 dredgers and would compete for the stake with other domestic dredging entities.

An APSEZ spokesperson said, "We believe in both organic and inorganic growth strategies and are