The government is considering merger of Miniratna Indian public sector unit Dredging Corporation of India (DCI) with another listed PSU company Cochin Shipyard, TV channel BTVI reported citing sources.
"The Shipping Ministry may shelve its earlier plans for strategic disinvestment of Dredging Corporation of India and is instead considering the possibility of merging the two PSU companies," BTVI reported on Thursday.
The government has already begun the process of selling its entire stake in DCI.
DCI is the only PSU company in dredging business and could provide cost-effective dredging solutions at competitive price for government projects to make inland waterways navigable, and build and modernise ports.
--IANS
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