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New UserGovernment plans to sell non-operational units of Cement Corporation of India
16 Mar 2017
The government today said it is planning to sell off nonoperational units of
Cement Corporation of India (CCI) as part of strategic sale of lossmaking companies.
"As far as CCI is concerned, nonoperating units of CCI are to be disinvested first as a part of strategic disinvestment of CCI," Minister of
State for Heavy Industries and Public Enterprises Babul Supriyo said in a written reply to the Rajya Sabha.
He said the interministerial group has identified five units for disinvestment in the first phase Mandhar, Kurkunta, Bhatinda, Nayagaon,
Charkhi and Dadri.
The legal issues relating to Delhi Grinding Unit (DGU), Adilabad and Akaltara need to be sorted out, he added.
The process of appointment of Transaction Advisor, Legal Advisor and Asset Valuer has been started by CCI as per direction of the group,
he said.
Niti Aayog has recommended for strategic disinvestment of Cement Corporation Of India.
To start with, all seven nonoperating units and the noncommissioned unit of Bhatinda are to be divested first and thereafter disinvestment
of operating units is to be taken up.
"The units being considered under disinvestment at present are closed and workers are not there. The amount expected as sale proceeds
shall be known after asset valuation of nonoperating units," he said.
Replying to a separate question, the minister said so far an amount of Rs 49.98 crore has been disbursed under different components of
the scheme for the capital goods sector.
Under the Capital Goods Scheme, so far 14 proposals have been approved, he said.
Source: Economic Times