Dredging Corp stake a raw deal for port trust consortium, say experts

Stake buy by a private entity could do more justice to the asset, they said

Absence of synergies coupled with no-cost advantage will make buying of government stake in Dredging Corporation of India (DCI) a raw deal for the consortium of four port trusts, sector experts said on Monda
y.

The Union Cabinet, last week, approved the sale of government stake in the company to the consortium of four ports - Visakhapatnam Port Trust, Paradip Port Trust, Jawaharlal Nehru Port Trust (JNPT), and Kandla Port Trust.

The government currently holds 73.44 per cent in DCI and has aimed to raise Rs 800 billion from public sector undertaking disinvestment. This deal is also part of the