All about Pradhan Mantri yojana and other government schemes in India.

2019-03-01

Cabinet gives ‘In Principle’ approval for strategic disinvestment of 100% GoI’s equity shares in Kamarajar Port Limited to Chennai Port Trust in a single process through strategic sale

Cabinet Committee on Economic Affairs (CCEA)

Cabinet gives ‘In Principle’ approval for strategic disinvestment of 100% GoI’s equity shares in Kamarajar Port Limited to Chennai Port Trust in a single process through strategic sale

Posted On: 28 FEB 2019 10:20PM by PIB Delhi

The Cabinet Committee on Economic Affairs chaired by the Prime Minister has given 'in principle' approval for strategic disinvestment of 100% equity shares of Government of India in Kamarajar Port Limited (KPL) to Chennai Port Trust (ChPT) in a single stage process, by following ‘Arm’s length’ principles.

Presently, the Government of India and Chennai Port Trust hold 67% and 33% of shares respectively in Kamarajar Port Limited.   The methods of valuation, to be used shall include discounted cash flow, assets valuation and relative valuation as recommended by NITI Aayog.

This would help to avoid duplication of capacity creation in the ports. Better human resource management in between the two ports will increase the efficiency of both Ports.

The strategic disinvestment of KPL shall be undertaken after conducting due diligence exercise by both the entities with the help of Advisors to be appointed for the transaction.

The approval is in the backdrop that ChPT and KPL will be able to evolve a clear policy on focus areas by devising optimum business strategy and defining dedicated cargo profile.

******
Source : PIB
Share:

0 comments:

Post a Comment

We are not the official website and are not linked to any Government or Ministry. All the posts published here are for information purpose only. Please do not treat as official website and please don't disclose any personal information here.

Copyright © 2015 Prime Minister's Schemes प्रधानमंत्री योजना. All rights reserved.

Categories

Copyright © Prime Minister's Schemes प्रधानमंत्री योजना | Powered by Blogger Design by ronangelo | Blogger Theme by NewBloggerThemes.com