The Indian government plans to invite financial bids for the privatisation of Shipping Corp of India Ltd (SCI) next month, as it looks to sell the state-run company after years of delay, two government officials told Reuters.
A seagull flies past a cargo container ship off the coast of Mumbai, India, December 3, 2015. REUTERS/Shailesh Andrade
next month, as it looks to sell the state-run company after years of delay, two government officials told Reuters. SCI – which owns and operates bulk carriers and crude oil tankers, among others – had to spin off its non-core assets before the government could sell its 63.75% stake, which hit a roadblock over the amount of funds to be transferred to the demerged entity.This demerged entity, called SCI Land Assets Ltd, will have to be listed before April 23 and government plans to do that soon, one of the two officials said.
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