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Government plans to sell stake in DCIL

19 Jun 2017

The government is planning an outright sale of Dredging Corporation of India (DCIL) through auction, which could fetch about Rs 1,400 crore to the exchequer. The government currently holds 73.47 percent stake in DCIL. Besides, there is a proposal to sell 100% government holding in four unlisted companies - Kamarajar Port, HLL Lifecare, Indian Medicines & Pharmaceutical Corporation, and Karnataka Antibiotics and Pharmaceuticals. The core group of secretaries on disinvestment, headed by the cabinet secretary, has already approved the sale of these five companies.

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

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