Government may sell 51% stake in Dredging Corporation of India: Report

The government is reportedly looking to sell a 51% stake in Dredging Corporation of India. The strategic stake sale should materialise by middle of the next fiscal year starting April 2017.  A cabinet note has been prepared on this proposal and is being circulated among key ministries for comment. The government currently holds 73.47% of the company that provides dredging services to seaports, while state-run financial institutions hold another 13% stake.

Dredging Corporation of India is involved in maintenance dredging, capital dredging, beach nourishment, land reclamation, shallow water dredging, Project Management consultancy and Marine construction.