NBCC may redevelop land bank with sick PSUs

The government plans to rope in state-run developers such as NBCC (India) Ltd to maximise value from the sale of sick and loss-making public sector undertakings (PSUs) that failed to generate suitable investor in the initial round of bidding. As per a plan shared by the government officials privy to the development, non-core assets including land and buildings of several weaker PSUs may be handed over to specialised state-run agencies for redevelopment to realise higher value or for sale through a bidding process. The new measure is expected to end the almost dead run being encountered in the disinvestment of weaker PSUs including plans for strategic sale.