The Government is likely to invite financial bids for privatisation of state-owned Shipping Corporation of India (SCI) in the March quarter, an official said.
“The demerger of non-core and land assets of Shipping Corporation is at an advanced stage. The process is expected to be over in about three months’ time, after which financial bids will be invited,” the official told PTI.
The financial bids from potential investors are expected in the January-March quarter, the official added.
In May, the board of Shipping Corp had approved an updated demerger scheme for hiving off the non-core assets of SCI to Shipping Corporation of India Land and Assets Ltd (SCILAL) including Shipping House, Mumbai and MTI (Maritime Training Institute), Powai to complete the process of de-merging all the non-core assets to the new company SCILAL.
As per the balance sheet of SCI, the value of non-core assets held for demerger as of March 31, 2022, stood at Rs 2,392 crore.
In March 2021, the government had received multiple bids for privatisation of Shipping Corporation of India. However, the demerger process got delayed.
