EoI for CONCOR to be issued soon, govt to exit PPL in FY22
PORTS & SHIPPING

EoI for CONCOR to be issued soon, govt to exit PPL in FY22

The government will issue an expression of interest (EoI) for the Container Corporation of India (CONCOR) as soon as the land leasing policy is finalised by the Indian Railways and will also exit from Paradeep Phosphates Limited (PPL) fully in FY22.

Strategic disinvestment of Bharat Petroleum Corporation Limited (BPCL), Air India, Shipping Corporation of India (SCI), BEML Limited, Neelachal Ispat Nigam Limited (NINL), are also anticipated to be completed within FY22, said Tuhin Kanta Pandey, secretary, Department of investment and public asset management (DIPAM).

He further added that the bidders and the government are finishing that second stage now and the due diligence and financial bidding, which we expect to complete in this financial year.

The government will also fully exit from Paradeep Phosphates Limited (PPL), which underwent disinvestment in 2002 and in which the government still owns some residual stake.

The government intends to exit PPL, Pandey said.

He added that the government proposed to exit from other public units where it has a residual stake, but the exits will be subject to board rulings and legal problems being resolved.

Pandey said that in the case of minority stakes, calibrated disinvestment should be done in companies that are unlisted such that private investors that still own shares in these companies do not observe their value getting eroded.

He further said that since the government expects dividends from Central Public Sector Enterprises (CPSEs), which can be accomplished, only if the government keeps its stake in some public sector units, the balance would have to be kept in mind. The government has earmarked Rs 50,000 crore from public enterprises as dividends in FY22.

He said that the government wanted to bring more companies for listing to realise the absolute value of the units.

Image Source


Also read: Concor to lease railway land in 3,500 cr deal for 35 years

The government will issue an expression of interest (EoI) for the Container Corporation of India (CONCOR) as soon as the land leasing policy is finalised by the Indian Railways and will also exit from Paradeep Phosphates Limited (PPL) fully in FY22. Strategic disinvestment of Bharat Petroleum Corporation Limited (BPCL), Air India, Shipping Corporation of India (SCI), BEML Limited, Neelachal Ispat Nigam Limited (NINL), are also anticipated to be completed within FY22, said Tuhin Kanta Pandey, secretary, Department of investment and public asset management (DIPAM). He further added that the bidders and the government are finishing that second stage now and the due diligence and financial bidding, which we expect to complete in this financial year. The government will also fully exit from Paradeep Phosphates Limited (PPL), which underwent disinvestment in 2002 and in which the government still owns some residual stake. The government intends to exit PPL, Pandey said. He added that the government proposed to exit from other public units where it has a residual stake, but the exits will be subject to board rulings and legal problems being resolved. Pandey said that in the case of minority stakes, calibrated disinvestment should be done in companies that are unlisted such that private investors that still own shares in these companies do not observe their value getting eroded. He further said that since the government expects dividends from Central Public Sector Enterprises (CPSEs), which can be accomplished, only if the government keeps its stake in some public sector units, the balance would have to be kept in mind. The government has earmarked Rs 50,000 crore from public enterprises as dividends in FY22. He said that the government wanted to bring more companies for listing to realise the absolute value of the units. Image Source Also read: Concor to lease railway land in 3,500 cr deal for 35 years

Next Story
Infrastructure Urban

Larsen & Toubro Secures Contract from Defence Ministry

The Ministry of Defence, Government of India, has awarded a significant contract to Larsen & Toubro (L&T) for supplying K9 Vajra-T Artillery Platforms to the Indian Army. As per the company's project classification, the contract is valued between Rs 50 billion and Rs 100 billion. The K9 Vajra-T, a 155 mm, 52-calibre tracked self-propelled artillery platform, is an adaptation of the globally renowned South Korean K9 Thunder howitzer. It has been co-developed by L&T and Hanwha Aerospace to meet the Indian Army's specific operational needs across diverse terrains, including deserts, plains, and..

Next Story
Real Estate

Delhi-NCR Housing Market sees 25% Sales Growth

The Delhi-NCR property market has maintained its momentum during the December quarter, with housing sales and new supply estimated to grow by 25 per cent and 59 per cent, respectively, as reported by PropEquity. Data from the real estate analytics firm suggests that housing sales in Delhi-NCR are likely to rise to 12,915 units during the October-December period of this year, compared to 10,354 units in the corresponding period of the previous year. New supply in the region is expected to increase significantly, reaching 11,223 units, a 59 per cent rise from 7,072 units in the year-ago quarter..

Next Story
Infrastructure Urban

DDC Approves Five Key Projects Under Kasaragod Development Package

The District Development Committee (DDC) has approved a budget of Rs 100.08 million for five key projects under the Kasaragod Development Package. This funding is part of the Rs 700 million allocated in the State budget for the 2024-25 financial year, with administrative approval formally amended to incorporate these initiatives. The decision was made during a meeting chaired by District Collector K. Inbasekar on Saturday, December 21. The approved projects include Rs 40.99 million for constructing Udayapuram Thungal Road in Kottom Belur grama panchayat and Rs 20.56 million for setting up a ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000