Reliance, Tata eye DPSC

Kolkata, Aug. 14: Tata Power, CESC and Reliance Energy have expressed interest in picking up 57 per cent in Dishergarh Power Supply Corporation Ltd (DPSC), the chairman and managing director of Andrew Yule & Company, Mr Kallol Datta, said.

Mr Datta told reporters here on Thursday that five companies, including the above three, had responded to the expression of interest (EoI) floated by Andrew Yule for selling 57 per cent stakeholding in DPSC as per the revival package sanctioned for the heavy engineering PSU.

While Andrew Yule along with two coal companies control 15 per cent in DPSC, state-run Life Insurance Corporation had 42 per cent stake in DPSC.

DPSC has a generating capacity of 40 MW and supplies power to the coal belt in the Ranigunj-Asansol area and the industrial township of Durgapur.

Mr Datta said that a board appointed committee was monitoring the DPSC divestment process which would take place through an open tender route.

The other two companies in which Andrew Yule would sell its stake are Phoenix Yule and Tidewater Oil.

In both Phoenix Yule and Tidewater Oil, Andrew Yule would divest 26 per cent stake.

Datta said that Andrew Yule was supposed to raise Rs 87 crore from the sale of its holdings in the three companies. — PTI