Concor strategic sale not happening in 2021-22: DIPAM

Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey has stated that the strategic sale of Container Corporation of India (Concor) will not be conducted in 2021-22. For Concor, the railway land usage policy is yet to be finalised by the Ministry of Railways, he added. It takes about a year from the date of issue of Expression of Interest (EoI) for the conclusion of any strategic sale. The Cabinet, in November 2019, had approved strategic sale of 30.8 per cent stake, along with management control, in Concor out of the government equity of 54.8 per cent. The government will retain 24 per cent stake post sell-off but without any veto powers. For 2021-22, the government has set a disinvestment target of Rs.1.8 trillion. So far, it has raised about Rs.91.1 billion by selling stake in Axis Bank, NMDC Ltd, Housing and Urban Development Corp (HUDCO) and Hindustan Copper.