NEW DELHI: It is learnt from sources in the Government that Major Ports in the country are considering to put in a joint bid for CONCOR divestment.

During her Budget 2021 speech, Finance Minister Nirmala Sitharaman had announced the Container Corporation of India would be disinvested along with other important public sector units.

Top Government sources said that Shipping Ministry has constituted a committee of ports under the Chairmanship of JNPT (Jawaharlal Nehru Port Trust) to study possible feasibility to jointly bid for the CONCOR divestment proceedings.

Sources expect this bid could bring better synergies between Major Ports and CONCOR. Sources confident to the proceedings inform that multiple ports are expected to show interest in CONCOR.

It’s expected that the Major Ports bid would increase operations ability and efficiency after acquisition.

However, sources are only concerned with the fact that these Major Ports would have adequate funds to bid for the Government-owned entity.

Sources expect this bid could bring better synergies between Major Ports and CONCOR. Sources confident to the proceedings inform that multiple ports are expected to show interest in CONCOR.

It’s expected that the Major Ports bid would increase operations ability and efficiency after acquisition.

However, sources are only concerned with the fact that these Major Ports would have adequate funds to bid for the Government-owned entity.