According to officials, the government is likely to invite financial bids for privatisation of state-owned Shipping Corporation of India (SCI) in the January-March, 2022-23 quarter. The demerger of non-core and land assets of Shipping Corporation is at an advanced stage and the process is expected to be over in about three months’ time, after which financial bids will be invited. The board of SCI had already approved an updated demerger scheme for hiving off the non-core assets of SCI to Shipping Corporation of India Land and Assets Limited (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 23.92 billion. The government has budgeted to garner Rs 650 billion from Central Public Sector Enterprise (CPSE) disinvestment in the ongoing 2022-23 fiscal. So far, Rs 245.44 billion has been mobilised through CPSE disinvestment.
