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| Home / India News Archives / 2003 / March / Lok Sabha: Sale Of Madras Fertilizers Ltd. |
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Lok Sabha: Sale Of Madras Fertilizers Ltd.
New Delhi: March 11, 2003 As per policy of the Government to bring down its equity in the non-strategic PSUs to 26 per cent or lower, it has been decided to disinvest 32.74 per cent of GOI held equity of 58.74 per cent in the Madras Fertilizers Limited (MFL) to a strategic buyer along with transfer of management control. The National Iranian Oil Company (NIOC) holds 25.77 per cent equity in MFL. NIOC has shown its willingness to enter into an MOU to divest its equity held in MFL. In the case of MFL, fresh "Expression of Interest' is to be invited as IFFCO and KRIBHCO, the two fertilizer cooperatives, have been allowed to participate in the disinvestment process of fertilizer companies. This information was given by Dr. Chhattra Pal Singh, Minister of State for Chemicals & fertilizers, in a written reply to a question in the Lok Sabha today. Press Release by: PIB/AM/Hb |
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