Tuesday, Sep 26 2023 | Time 19:16 Hrs(IST)
Business Economy

Govt scraps old bidding process for Pawan Hans, will issue fresh soon

New Delhi, Apr 7 (UNI) Government has scrapped the old bidding process of Public Sector Enterprises Pawan Hans and will invite fresh bid for the strategic disinvestment in the copter Company soon.
In this regard, Ministry of Civil Aviation has issued a notice and said, “With reference to the captioned subject, the “Preliminary Information Memorandum for inviting Expression of Interest” issued on 13th October 2017 has been cancelled. Further details in this regard will be issued shortly on this website.”
The chopper company is a 51:49 joint venture between the Government of India and oil and Gas giant ONGC.
Last year, the government had invited bids from private companies, including foreign ones, to buy out its stake along with management control in helicopter service operator Pawan Hans Ltd (PHL).
Last week Minister of State for Civil Aviation Jayant Sinha too had said that his Ministry will go for fresh bidding.
In October last year, in a “global invitation for expression of interest”, the government had asked private players to submit the bids by December 8.
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