Jan 12: The government will this month invite Expression of Interest or preliminary bids for privatising Container Corporation of India (Concor), an official said on Wednesday.
The official said the bid document for Concor is almost ready and has to get approval from ‘Alternative Mechanism’ which is essentially a group of key Cabinet ministers.
“We are trying hard to issue the Preliminary Information Memorandum inviting Expression of Interest (EoI) for Concor as quickly as possible. It should be issued this month, subject to approval,” the official told PTI. The Cabinet, in November 2019, had approved strategic sale of a 30.8 per cent stake, along with management control, in Concor out of the government equity of 54.80 per cent. The government will retain 24 per cent stake post sell-off but without any veto powers.
However, the stake sale was hanging fire as investors awaited clarity on the rail land lease policy and licensing fees. The Union Cabinet in September approved a revised policy which provides for long-term leasing of railway land for cargo related activities for a period of up to 35 years at 1.5 per cent of market value of land per annum. The completion of Concor strategic sale would spill over to next financial year when financial bids would come in from potential investors
Source: The Goan
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