Cabinet approves sale of entire government stake in Dredging Corporation of India

The Union cabinet has approved the sale of its entire 73.47 per cent stake in the Dredging Corporation of India (DCI). The deal is expected to fetch Rs 14 billion-Rs 15 billion to the exchequer. DCI is under the administrative control of the MoS and is involved in maintenance dredging, capital dredging, beach nourishment, land reclamation, shallow water dredging, project management consultancy and marine construction.