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Crucial Meeting on SCI Strategic Sale to Take Place on December 14

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During the road show for SCI divestment government received good responses from foreign investors as well as domestic players.

New Delhi: Meeting of Core Group of Secretaries on Disinvestment has been scheduled on 14th December to finalise the Expression of Interest(EoI) for strategic sale of Shipping corporation of India, sources said.

If EoI get approved in this meeting, EoI may be issued by the end of next week, source added.

During the road show for SCI divestment government received good responses from foreign investors as well as domestic players. On the basis of their feedback investment advisor finalise the draft of EoI.

Now Core Group of Secretaries on disinvestment (CCD), led by Cabinet Secretary, has been scheduled next week on 14th December to give the final approval of EoI. Once CCD approved, by the end of next week government may issue EoI.

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Government hopes domestic, foreign players, global funds to be interested in SCI. During initial discussions players like Essar Shipping, Adani, GE Shipping, Vedanta, Dubai Port World have expressed interest in Shipping Corp, source added.

Government has decided to sell its entire 63.75% stake in SCI.

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first published:December 10, 2020, 09:57 IST