Government invites CPSEs to bid for buying NPCC, HSCC
By Express News Service | Published: 13th October 2017 07:56 AM |
NEW DELHI: The government has fast-tracked stake sale of National Projects Construction Corporation (NPCC) and Hospital Services Consultancy Corporation (HSCC) and invited bids from central public-
sector enterprises (CPSEs). The bids for both the companies have to be put in by November 8.
The consultancy firms NPCC and HSCC will be merged as a single unit and all advisory business units will be under one outfit. The government wants to sell its entire 98.99 per cent stake in NPCC and 100 per cent in HSCC. The stake will be allowed only to central PSUs, according to a notice inviting bids.
NPCC is primarily engaged in project management consultancy services for civil construction projects and civil infrastructure for thermal and hydro electric projects in India.
HSCC, under the Ministry of Health and Family Welfare, is engaged in the provision of consultancy services in healthcare and other social sectors in India and abroad. Industry sources said that NBCC is the strongest contender as it has been planning to add these two segments in its business portfolio. Finance Minister Arun Jaitley in his Budget for 2017-18 had mentioned merger of PSUs to create large state-owned firms.
“The government has ‘in-principle’ decided to disinvest its entire equity shareholding in NPCC along with transfer of management control through a competitive bidding process by way of acquisition by a similarly placed CPSE through sale of equity shares,” the Department of Investment and Public Asset Management said while inviting bids. The disinvestment process will be implemented through physical open competitive bidding route, it added.