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Govt approves disinvestment of ITDC, Bongaigaon refineries

The government on Tuesday took a major step towards disinvestment of public sector undertakings, including the profitable Indian Tourism Development Corporation and the Bongaigaon refineries.

A spokesman said the cabinet has approved the appointment of global financial advisors for the disinvestment, which will be effected through deals with ''strategic partners.''

Bharati Aluminum will disinvest to the tune of 40 per cent while Kudremukh Iron Ores will disinvest up to 30 per cent, the spokesman said.

A decision on the quantum of disinvestment for other PSUs including Modern Fruit, would be decided later, he said.