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Dredging Corporation gets nod for strategic disinvestment of govt stake

has received in-principal approval for disinvestment of Government of India’s shares in the company. Ministry of Shipping communicated in-principal approval of Cabinet for strategic disinvestment of 100% Government of India shares in company in favour of a consortium of four ports, namely Vishakhapatnam Port Trust (as the consortium leader), Paradip Port Trust, Jawaharlal Nehru Port Trust and Kandla Port Trust (now Deendayal Port Trust).

Government of India holds 73.47% of the Paid up share capital of the company of Rs 28 crore.

Dredging Corporation of India is the premier dredging company in India and is the only PSU company offering dredging services. Established in 1976, the Company provides dredging and allied services to Ports, Indian Navy etc.

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