Projects and Development India Ltd. is a chief plan designing and consultancy association, conferred towards mechanical perfection and confidence in the development of the manure and unified compound enterprises with related off site and utility offices, Oil and Gas Sector viz. Item pipelines, LPG Terminals, Oil terminals, LPG Bottling Plants, LPG mounded Storages, Methanol Plants, Hydrogen Plants and different corrosive Plants.

PDIL may take merger route instead of stake sale

The Cabinet Committee on Economic Affairs (CCEA) is set to fix its choice to offer Projects and Development India Ltd (PDIL) to a key speculator. Rather, it is probably going to support the merger of PDIL with Engineers India Ltd (EIL).

The ministry of chemicals as well as fertilisers, the nodal ministry for PDIL, plans to move a Cabinet note to combine the element with EIL. Sources near the improvement revealed to Business Standard that a meeting was held as of late in such manner.

A source stated, "There is an inclination that both the substances are into similar organizations and it is advantageous to blend them as opposed to stripping the stake."

EIL is an open segment undertaking that falls under the service of oil and flammable gas. It is one of the Navaratna open division endeavors (PSUs). Prior, representatives of PDIL had made portrayals to the nodal service and proposed that the organization be converged with EIL.

The legislature had started the divestment procedure of PDIL after the CCEA had affirmed pitching its stake to a vital speculator. Valuations have been looked for. The legislature had before endeavored to blend PDIL with another PSU, Hindustan Prefab.

PDIL is a plan building and consultancy association concentrating on parts, for example, composts, united substance businesses and oil and gas. Its specialized topics incorporate item pipelines, condensed oil gas (LPG) terminals, oil terminals, LPG packaging plants, LPG mounded stockpiles, methanol plants, hydrogen plants and different corrosive plants.

EIL is a engineering consultancy specialist co-op to the refinery area. It has executed 72 refinery ventures with a joined refining limit of more than 100 mmtpa, including 10 grassroots refineries. Its administrations go from idea to charging of undertakings, including single unit patch up ventures, super refineries and refinerycum-petrochemical edifices.

The government has not met its disinvestment focus for as far back as seven years. In Budget 201718, it set a disinvestment focus of ~72,500 crore — which includes ~46,500 crore by means of minority stake deal, ~15,000 crore through key stake deal and ~11,000 crore from posting of different insurance agencies.

Up until now, the government had mopped up close to10,000 crore from disinvestment.