MoneyWorks4Me

Govt executes share purchase pact with four ports to sell its stake in DCI

11 Mar 2019 Evaluate

The government has executed share purchase pact with four ports namely, Visakhapatnam Port Trust, Paradip Port Trust, Jawaharlal Nehru Port Trust and Deendayal Port Trust with regard to the strategic sale of its stake in Dredging Corporation of India (DCI).

With this the 73.47% holding of GOI in DCI has been transferred to the four ports. The government has mobilized a total amount of Rs 1049 crore by this strategic sale.

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.

Peers