Government to invite financial bids for Shipping Corp of India sale


The government is likely to invite financial bids for Shipping Corporation of India (SCI) by September, after the process of the demerger of non-core assets is completed, an official said. As part of the strategic-sale process, the government is hiving off Shipping House and the training institute in Pune and some other non-core assets of Shipping Corporation of India (SCI).”The process of demerger is time consuming. We would be ready to invite financial bids in 3-4 months,” the official said. The board of Shipping Corporation met last week and approved an updated demerger scheme for hiving off the non-core assets of SCI to Shipping Corporation of India Land and Assets Ltd (SCILAL) including Shipping House, Mumbai and MTI (Maritime Training Institute), Powai to complete the process of de-merging all the non-core assets to the new company SCILAL.As per the balance sheet of SCI, the value of non-core assets held for demerger as of March 31, 2022, stood at Rs 2,392 crore.


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