|
|
Article: India : : Govt considers up to 74 pc disinvestment in HMT Bearings Ltd.
- Article from:
- TendersInfo
- Article date:
- July 31, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Mamta03
The government is planning to offload stake in HMT Bearings Ltd (HBL) and is scouting for joint venture partners in some other state-owned firms in a bid to revive sick units.
"Disinvestment up to 74 per cent equity in HMT (Bearing) is under consideration of the government," Minister of State for Heavy Industries and Public Enterprises Arun Yadav said in a written reply to a query in Lok Sabha.
HBL, set up in 1964, is 97 per cent held by HMT Ltd and makes ball and roller bearings.
On whether the government has any proposal to reduce its equity in other companies, Yadav said, "the government has invited expression of ...