(PTI)
The government is likely to invite financial bids for Shipping Corporation of India by September, after the process of demerger of non-core assets is completed, an official said. As part of the strategic-sale process, the government is hiving off Shipping House and the training institute and some other non-core assets of Shipping Corporation of India (SCI). “The process of demerger is time consuming. We would be ready to invite financial bids in 3-4 months,” the official said.
The board of Shipping Corp met last week and 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.
