Coronavirus impact | Govt signs 'virtual' sale pacts for Kamarajar Port, THDC and NEEPCO: Report
The Centre will be getting Rs 13,500 crore.
March 27, 2020 / 02:54 PM IST
Due to the coronavirus outbreak, the government has been forced to conclude strategic sales of some of its entities via 'virtual signing'.
The Department of Investment and Public Asset Managemnet (DIPAM) has sealed the deals for sale of Kamarajar Port, THDC India and North Eastern Electric Power Corporation Limited (NEEPCO) using this route, The Hindu BusinessLine reported.
The three deals will fetch the Centre Rs 13,500 crore, the report added.
The three sales will bring the government's divestment in FY20 to Rs 50,000 crore. The target for the fiscal year, originally set at Rs 1.05 lakh crore, was later revised to Rs 65,000 crore.
Moneycontrol could not independently verify the story.
The Centre's 67 percent stake in Kamarajar Port to Chennai Port Trust was sold for Rs 2,383 crore. DIPAM had signed the agreement on March 26.
DIPAM also closed the agreement to sell the Centre's 75 percent stake in THDC India and 100 percent stake in NEEPCO to NTPC for more than Rs 11,000 crore.