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No question of closure of DCI; 3 ports to pick up govt stake: Gadkari

Press Trust of India  |  New Delhi 

There is no question of closure of state-owned of India (DCI) as three major ports including Port plan to pick up government stake in the company, said Gadkari.

"At the department level, we have taken a decision. The three major port are now ready to acquire We have already submitted cabinet note for approval of the cabinet," he said.

Besides Visakhapatnam, he said and will buy stakes in the company.

There is also plan to restructure the company so that professionally it becomes strong, he said.

"So, the question does not arise about the closure of of India," he said.

Currently, the government holds 73 per cent stake in the company.

The sale could bring around Rs 1,400 crore to the exchequer.

The company is under the administrative control of the It is involved in maintenance dredging, capital dredging, beach nourishment, land reclamation, shallow water dredging, project management consultancy and marine construction.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 13 2018. 16:30 IST