Non-operating units of CCI to be disinvested first -Governance Now

Non-operating units of CCI to be disinvested first

Niti Aayog has recommended for strategic disinvestment of Cement Corporation of India.

GN Bureau | March 15, 2017

#CCI #NITI Aayog #disinvestment #cement corporation of India

The non-operating units of Cement Corporation of India Limited (CCI) are to be disinvested first as a part of its strategic disinvestment.

Babul Supriyo, minister of state in the ministry of heavy industries and public enterprises, informed the Rajya Sabha that Niti Aayog has recommended for strategic disinvestment of Cement Corporation of India.

To start with all seven non-operating units that is 1) Mandhar, 2) Kurkunta, 3) Nayagaon, 4) Charkhi Dadri, 5) Delhi Grinding Unit (DGU), 6) Adilabad & 7) Akaltara and the non-commissioned unit of Bhatinda are to be divested first and thereafter disinvestment of operating units is to be taken up.

The Inter Ministerial Group (IMG) has identified five units for disinvestment in the first phase namely 1) Mandhar, 2) Kurkunta, 3) Bhatinda, 4) Nayagaon, 5) Charkhi Dadri and the legal issues relating to DGU, Adilabad and Akaltara need to be sorted out.

The mode of sale shall be as per the guidelines of Department of Investment and Public Asset Management (DIPAM).

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 non-operating units.

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