Dipam calls for key meeting on Wednesday to mull Concor divestment

Sources say officials from Railways, Concor, Niti Aayog, finance and law ministries expected to take final call on pending issues regarding transfer of land to private player post disinvestment

The Department of Investment and Public Asset Management (Dipam) has called for a meeting of representatives from key ministries on Wednesday, to clear the decks for the disinvestment of Container Corporation of India (Concor).

Officials from the Railways, Concor, Niti Aayog, and finance and law ministries are expected to attend the meeting. Sources said a final call will be taken on pending technical issues regarding the transfer of land to private players, post disinvestment. They added that a group of ministers (including railways, home and finance) have to give the final nod so that the expressions of interest can be invited.

The government's stake sale in Concor has already seen interests from global majors like Maersk, the world’s largest container shipping line and vessel operator. The Danish shipping major had participated in the second round of the pre-expression of interest (EoI) roadshows held by Dipam.

Other companies to have shown interest in the two rounds of roadshows include I Squared Capital, Sojitz Corporation, Adani group, D P World, PSA Singapore, JSW Group and Essar Ports. The Concor disinvestment process, which was cleared in November 2019, allows the government to sell 30.8 per cent in its holding of 54.8 per cent in the company to private players. Based on Concor's current market cap of Rs 36,316.9 crore, a 30.8 per cent stake in the company is valued around Rs 11,185 crore.