The government has approved the sale of its entire 73.47% stake in Dredging Corporation of India (DCI). The Cabinet has approved the sale of government’s entire 73.47% stake in the company which could fetch about Rs 1,400 crore to the exchequer. The dredging company is under the administrative control of the shipping ministry.
Dredging Corporation of India (DCI) is the premier dredging company in India and is the only PSU company offering dredging services. Established in 1976, the Company provides dredging and allied services to Ports, Indian Navy etc.