Centre nod on SCI stake sale in Sept.

Aug 30, 2010 |

Correspondent

The Cabinet is likely to give its nod for divesting the government’s stake in Shipping Corporation of India (SCI) and Manganese Ore India Limited (MOIL) within the next two to three weeks. “MOIL and SCI would be next disinvestment proposals that would come before the Cabinet. We expect the Cabinet’s nod in the next two to three weeks,” a source told PTI. The central as well as the state governments of Maharashtra and Madhya Pradesh will offload a total 20 per cent stake in MOIL through an initial public offer. While the central government will offload
its 10 per cent in the company, Maharashtra and MP will dilute 5 per cent each.

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