Cement Corporation of India's (CCI) four non-performing units will be sold by the Union government and it expects to get over Rs 1,300 crore through the sale. CCI, which was set up in 1965, comes under the Ministry of Heavy Industries and Public Enterprises.
CCI is a public sector unit and the government has 100 per cent shareholding. In total, the company has 10 units out of which 7 are non-functional.
A source in the Cement Corporation of India said that the Corporation has started the sale process as it has invited expression of interest for outright sale of 4 non-operational units. The sale would be done through an e-auction process, the sources added.