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Indian government looking to sell 51 per cent stake in DCI

News // March 6, 2017

The Economics Times reports that the Indian government is looking to sell a 51 per cent stake in state run Dredging Corporation of India.

A cabinet note has been prepared on the proposal and is being circulated among key ministries for comment, two senior government officials said.

"There is enough competition in this sector and therefore the role of a public-sector firm is limited," said one of the officials aware of the deliberations.

The strategic stake sale should materialise by middle of the next fiscal year starting April, he said.

The government currently holds 73.47 per cent of the firm.

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