Government Approves Privatisation of Dredging Corporation

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Posted February 7, 2018

Putting all speculations to rest, the government has approved selling off its entire public stake in the Dredging Corporation of India (DCIL).

The move aims to upgrade technology, improve capability, infuse capital to buy necessary dredgers/equipment and instil experienced professional management to optimise operations of the DCIL.

The department of investment and public asset management (DIPAM) has obtained approval of the government to disinvest 100 per cent government of India equity in DCIL in one go through two-stage auction process, with the advice of the transaction advisor.

Minister of state for road transport and highways, shipping and chemical & fertilizers Mansukh L Mandaviya informed the Rajya Sabha on February 5.

Source: Governance Now