 "PDIL may take merger route instead of stake sale")
The Cabinet Committee on Economic Affairs (CCEA) is set to undo its decision to sell Projects and Development India (PDIL) to a strategic investor. Instead, it is likely to approve the merger of PDIL with Engineers India (EIL).
The ministry of chemicals and fertilisers, the nodal ministry for PDIL, plans to move a Cabinet note to merge the entity with EIL. Sources close to the development told Business Standard that a meeting was held recently in this regard.
A source said, “There is a feeling that both the entities are into the same businesses and it would be beneficial to merge them
