NEW DELHI: Disinvestment of Container Corporation of India (Concor) is unlikely in near future, DIPAM Secretary Tuhin Kanta Pandey said on Monday. In an interaction with this newspaper, he stated that the government hasn’t even launched the Expression of Interest (EoI).
“We haven’t even launched the EoI (Concor) and doesn’t even look likely in the near future. We have to see at the timing and all.., There are initial obstacles and some of the obstacles have been handled. At the moment our focus is on the EoIs which are already in the pipeline,” Pandey said.
The strategic sale of the government’s 30.8% stake in the Rs 68,230 crore Concor, which was approved in 2019 and included the transfer of management control, has faced numerous challenges since then. Companies like JSW, Maersk, and Adani expressed interest in acquiring the Centre’s stake, but reports suggest that railway ministry has raised concerns regarding the introduction of a strategic investor.
In the last one year, shares of Concor has surged over 50% and currently it is trading at Rs 1,043.4 per share. As per the DIPAM Secretary, there has been some progress with regard to IDBI Bank, SCI (Shipping Corporation of India) and BEML (Bharat Earth Movers). He said the EoIs of these PSUs are already in pipeline and it’s the government’s endeavour to take them to the logical culmination.
On BPCL, he said the Centre did go through the first iteration, which didn’t succeed. “Thereafter, I think the minister (petroleum minister Hardeep Singh Puri) has made an announcement,” Pandey said.
Concor shares surge more than 50%
In the last one year, shares of Concor has surged over 50% and currently it is trading at Rs 1,043.4 per share. As per the DIPAM Secretary, there has been some progress with regard to IDBI Bank, SCI (Shipping Corporation of India) and BEML (Bharat Earth Movers). He said the EoIs of these PSUs are already in pipeline and it’s the government’s endeavour to take them to the logical culmination.