Govt plans to sell non-operational units of Cement Corporation of India
The government said it is planning to sell off non-operational units of Cement Corporation of India (CCI) as part of strategic sale of loss-making companies. "As far as CCI is concerned, non-operating units of CCI are to be disinvested first as a part of strategic disinvestment of CCI," Minister of State for Heavy Industries and Public Enterprises Babul Supriyo said in a written reply to the Rajya Sabha. He said the inter-ministerial group has identified five units for disinvestment in the first phase - Mandhar, Kurkunta, Bhatinda, Nayagaon, Charkhi and Dadri. The legal issues relating to Delhi Grinding Unit (DGU), Adilabad and Akaltara need to be sorted out, he added. The process of appointment of Transaction Advisor, Legal Advisor and Asset Valuer has been started by CCI as per direction of the group, he said. Niti Aayog has recommended for strategic disinvestment of Cement Corporation Of India. To start with, all seven non-operating units and the non-commissioned unit of Bhatinda are to be divested first and thereafter disinvestment of operating units is to be taken up. "The units being considered under disinvestment at present are closed and workers are not there. The amount expected as sale proceeds shall be known after asset valuation of non-operating units," he said.
Tags : ALLIED