The government has set a 50-day deadline for an outside 'asset valuer' to carry out the valuation of all assets of Bharat Petroleum Corporation (BPCL), a process once completed will trigger invitation of price bids from potential acquirers.
The Cabinet Committee on Economic Affairs (CCEA) had on November 20 given a go-ahead for sale of government's entire stake in BPCL, Shipping Corporation of India (SCI), power generator THDC India (THDCIL) and North Eastern Electric Power Corp (NEEPCO) to a strategic investor along with management control.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.