BUSINESS

ChPT to get Kamarajar Port stake

The Centre has decided to divest its stake in the Kamarajar Port Ltd. (KPL) to Chennai Port Trust (ChPT) in a single process through strategic sale.

The Cabinet Committee of Economic Affairs (CCEA) chaired by the Prime Minister gave its in-principle approval for strategic disinvestment of 100% equity shares of KPL to ChPT in a single stage process by following ‘arm’s length’ principles.

Presently, the Central Government holds 67% of shares and Chennai Port Trust 33% shares in Kamarajar Port Ltd.

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