PSU DISINVESTMENT ..Union Cabinet nod for disinvestment in BPCL, SCI, CCI, THDC, NEEPCO: finance minister

NEWS DISINVESTMENT PSUs
NEW DELHI: The Union Cabinet has given its “in-principle” nod for disinvestment in select central public sector enterprises (CPSEs). The announcement was made late on Wednesday night by Union Finance Minister Nirmala Sitharaman. The companies included, among others, the Bharat Petroleum Corporation (BPCL), excluding its equity shareholding in the Numalighar Refinery in Assam.

Another is the Shipping Corporation of India. The cabinet approved sale of the government’s 63.75 per cent stake in SCI, as also a 30.8 per cent stake sale  in Container Corporation of India (CCI). “The sale will be to a strategic buyer,” the minister said.
Also, a 74.23 percent stake sale of The Hydropower Development Corporation (THDC) and 100 percent stake sale in North Eastern Electric Power Coporation Limited (NEEPCO) to NTPC have been approved. The management control of these companies will be handed over to the strategic buyer. –IHN-NN

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