AgenciesThe government is looking to invite expressions of interest (EoIs) for privatising Container Corporation of India (Concor) by the end of the current fiscal year.
The Department of Investment and Public Asset Management (DIPAM) is awaiting for more clarity from the railway ministry before it finalises the final bid document, people aware of the discussions said.
"If all goes well, we are aiming to invite at least preliminary bids by the end of this fiscal. Some clarification is awaited from the railways' side, we will go ahead once it is done," an official told ET.
A meeting of group of ministers will be called soon after to seek clearance for the EoI bid document.
The Cabinet had in November 2019 approved strategic sale of a 30.8% stake, along with management control, in Concor out of the government equity of 54.80%. The government will retain 24% stake post sell-off but without any veto powers.
The Cabinet in September last year approved a revised railway land lease policy allowing long-term leasing of railway land for a period of up to 35 years at 1.5% of market value of land per annum.
A navratna PSU, Concor is engaged in logistics and container transportation. It has 61 container terminals with a manpower of 1,359 as of March 2022. It's total income in fiscal 2021-22 was ₹7,857 crore, while profit before tax was ₹1,407 crore.
The Department of Investment and Public Asset Management (DIPAM) is awaiting for more clarity from the railway ministry before it finalises the final bid document, people aware of the discussions said.
"If all goes well, we are aiming to invite at least preliminary bids by the end of this fiscal. Some clarification is awaited from the railways' side, we will go ahead once it is done," an official told ET.
A meeting of group of ministers will be called soon after to seek clearance for the EoI bid document.
The Cabinet had in November 2019 approved strategic sale of a 30.8% stake, along with management control, in Concor out of the government equity of 54.80%. The government will retain 24% stake post sell-off but without any veto powers.
The Cabinet in September last year approved a revised railway land lease policy allowing long-term leasing of railway land for a period of up to 35 years at 1.5% of market value of land per annum.
A navratna PSU, Concor is engaged in logistics and container transportation. It has 61 container terminals with a manpower of 1,359 as of March 2022. It's total income in fiscal 2021-22 was ₹7,857 crore, while profit before tax was ₹1,407 crore.
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