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SCI, Engineers India stake sale by 2003
By siliconindia
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Thursday, 12 December 2002, 20:30 IST
BANGALORE: The government hopes to complete stake sales in Shipping Corporation and Engineers India Ltd by the end of this financial year to March 2003.
"We will try to call financial bids this year. We will try to complete the sales in the current year," Pradip Baijal, secretary in the Disinvestment Ministry, told reporters on the sidelines of a conference.
The official's comments comes days after senior cabinet ministers decided to privatise state-run oil firms Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd.
The government is also contemplating selling 51 percent in Engineers India, a consultancy and engineering firm that provides project services for petroleum refiners.
India plans to sell 51 percent in Shipping Corp, the country's largest shipping line, as part of its plans to raise Rs 12000 crore through stake sales in state-run firms