Hooghly Dock has also dropped plans to hold conventional road shows and, instead, would be reaching out directly to shipbuilders. Set up in 1819, Hooghly Dock was nationalised in 1984 and after turning sick the Cabinet in 2011 decided to revive the company by partnering with private sector. And at the end of 10 years, the private sector partner can divest its stake in full, subject to the approval of Hooghly Dock. In consideration Hooghly Dock would earn lease rents for a period of 30 years. Curiously, the private sector bidder would be given the management control.

Source: dna July 16, 2016 01:07 UTC