The Union Cabinet on Thursday approved strategic sale of Government stake in Dredging Corporation of India to consortium of four ports.
"CCEA has given in principle approval for strategic disinvestment of 100 per cent Government of India's share in DCIL to consortium of 4 ports, namely Vishakhapatnam Port Trust, Paradeep Port Trust, Jawaharlal Nehru Port Trust and Kandla Port Trust," an official tweet said.
The approval will further facilitate the linkage of dredging activities with the ports, keeping in view the role of the DCIL in expansion of dredging activity in the country as well as potential diversification of ports into third party dredging, the tweet said after the meeting of the Cabinet Committee of Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.
