CCD likely to meet before the Feb 17

NEW DELHI: Cabinet Commitee on Disinvestment is likely to meet before the Budget session of Parliament beginning February 17, for finalising transaction documents for disinvestment of Shipping Corporation of India, Hindustan Copper and Engineers India Limited.
"The next meeting of CCD may happen before the Budget session, however, it depends on PM''s convenience," Disinvestment Minister Arun Shourie told reporters here.
He said that transaction documents for EIL, SCI and Hindustan Copper may come up for discussion.
Government is in the process of offloading 51 per cent stake in EIL, along with management control and over half a dozen companies including ONGC-BHEL combine, GAIL-L&T combine, Reliance, Essar, Tisco, Warburg Pincus, Jindal and Russia-based Sun Securities, are eyeing stake in the engineering consultancy PSU.
In case of SCI, 51 per cent of Government''s 80 per cent stake has been put on the block for which four companies are in the fray, including GESCO and Sterlite.
For Hindustan Copper, Government would offload its entire shareholding of 98 per cent to a strategic partner for which Sterlite and A V Birla Group are in the race.
Government had earlier aborted an attempt to privatise the copper major last year after the company failed to enthuse the bidders owing to the poor financial health.