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Govt invites bids from CPSEs for buying NPCC, HSCC

The bids for both of the companies have to be put in by November 8

Press Trust of India  |  New Delhi 

Arun Jailtey, Jaitley
Union Finance Minister Arun Jaitley addressing media after the 22nd meeting of the Goods and Services Tax (GST) Council, in New Delhi on Friday. (Photo: PTI)

The has invited bids from central public sector enterprises (CPSEs) for buying its entire shareholding in consultancy firms, and HSCC, as it looks to bring all advisory business under one outfit.

The wants to sell its entire 98.99 per cent stake in National Projects Construction Corporation (NPCC) and 100 per cent in Hospital Services Consultancy Corporation (HSCC), but only to Central PSUs, according to a notice inviting bids.

The stake sale is in line with the announcement Minister made in his Budget for 2017-18 outlining the desire to merge PSUs to create large state-owned firms.

The bids for both of the have to be put in by November 8.

"The has 'in-principle' decided to disinvest its entire equity shareholding in along with the transfer of management control through a competitive bidding process by way of by a similarly placed CPSE through sale of equity shares," the Department of Investment and Public Asset Management said while inviting bids.

The disinvestment process will be implemented through physical open competitive bidding route, it added.

Under the administrative control of the Ministry of Water Resources, is primarily engaged in project management consultancy services for civil construction projects and civil infrastructure for thermal and hydro electric projects in India.

HSCC, under the Ministry of Health and Family Welfare, is engaged in the provision of consultancy services in health- care and other social sectors in India and abroad.

First Published: Thu, October 12 2017. 17:00 IST