You are here: Home » Companies » News
Business Standard

Fresh EoI will be issued for Pawan Hans disinvestment soon: Minister Puri

On July 11, 2019, the Modi government had issued an EoI to sell its 51% stake in the national helicopter carrier PHL

Press Trust of India  |  New Delhi 

Pawan Hans

Civil Aviation Minister said on Tuesday that fresh expression of interest (EoI) would be invited for the sale of Limited (PHL) in the next few days.

"Expression of Interest (EoI) will be issued in a few days' time," the minister told reporters.

On July 11, 2019, the Modi government had issued an EoI to sell its 51 per cent stake in the national helicopter carrier PHL.

It had also stated that ONGC will also sell its 49 per cent stake in PHL.

Civil Aviation Secretary Pradeep Singh Kharola told reporters on Tuesday that the conclusion of the old process, for which bids were received but were not valid, and initiation of the new process are linked. "Both decisions will happen together," he said.

Post issuance of EoI on July 11, 2019, the Centre had extended the deadline for submission of bids three times.

The government tried to offload its 51 per cent stake in the national helicopter carrier earlier too -- in 2018 as well as in 2017.

In October 2018, the government had issued a preliminary information memorandum for the PHL but all the bids that were submitted then were found to be unacceptable.

The government had unsuccessfully tried to exit PHL in October 2017 too.

First Published: Tue, December 31 2019. 20:35 IST
RECOMMENDED FOR YOU