Business News | Air India, BPCL Disinvestment to Be Completed This Year: DIPAM
Get latest articles and stories on Business at LatestLY. The government plans to complete privatisation of Air India and Bharat Petroleum Corporation Ltd (BPCL) this year, Tuhin Kant Pandey, Secretary at the Department of Investment and Public Asset Management (DIPAM) said on Wednesday.
New Delhi [India], August 11 (ANI): The government plans to complete privatisation of Air India and Bharat Petroleum Corporation Ltd (BPCL) this year, Tuhin Kant Pandey, Secretary at the Department of Investment and Public Asset Management (DIPAM) said on Wednesday.
Addressing the annual session of Confederation of Indian Industry (CII), he said Shipping Corporation of India, Pawan Hans and Neelachal Ispat Nigam Ltd have also got sufficient interest from bidders.
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"We are now at the second stage of due diligence and financial bidding, which we will be able to complete in this financial year," said Pandey.
He said IDBI Bank's strategic disinvestment has also been set into motion with the Cabinet approval. The expression of interest is expected for CONCOR as soon as the land lease policy is finalised.
"The government is working on a Rs 6 lakh crore asset monetisation plan that will include pipelines of Power Grid Corporation of India and national highways," said Pandey. "The national monetisation plan will have a range of assets from Power Grid pipeline to national highways."
Tenders for public private partnerships in railway stations have also been announced, and the model has been successful in managing airports. "There is a big asset monetisation pipeline where private sector participation is anticipated," said Pandey. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)