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Government looking to sell 51 per cent stake in Dredging Corp

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[vc_row][vc_column][vc_column_text]The government is looking to sell a 51 per cent stake in state-run Dredging Corporation of India. A cabinet note has been prepared on this proposal and is being circulated among key ministries for comment, two senior government officials said.

The strategic stake sale should materialise by middle of the next fiscal year starting April, he said. The government currently holds 73.47 per cent of the firm that provides dredging services to seaports, while state-run financial institutions hold another 13 per cent stake.

Pursuing its strategic sales programme, and to bring in consolidation among public-sector enterprises, the government has invited applications for engagement as advisers for seven firms which include Bharat Pumps & Compressors, Bridge & Roof Company and Hindustan Fluorocarbons.[/vc_column_text][/vc_column][/vc_row]

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