The Government has decided to sell off its entire public stake in Dredging Corporation of India (DCIL). This decision has been taken with an aim to upgrade technology, improve capability, infuse capital to buy necessary dredgers/equipments and instill experienced professional management to optimize operations of the company.
The Department of Investment and Public Asset Management (DIPAM) has obtained approval of the Government to disinvest 100% Government of India Equity in DCIL in one go through two-stage auction process, with the advice of the Transaction Advisor.
Dredging Corporation of India 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.