Indian Government to Sell DCI Through Auction?

Image source: Dredging Corporation of India

The Indian government is planning an outright sale of the Dredging Corporation of India (DCI) through auction, according to the local media.

Besides DCI, there is also a proposal to sell 100% government holding in four unlisted companies: Kamarajar Port, HLL Lifecare, Indian Medicines and Karnataka Antibiotics.

The core group of secretaries on disinvestment, headed by the cabinet secretary, has already approved the sale of these five companies, and an approval of the Cabinet Committee Economic Affairs (CCEA) would be sought soon, the media reports stated.

The government currently holds 73.47% stake in the Dredging Corporation of India.

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