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Govt fixes indicative value for The Ashok hotel under NMP at Rs 7,409 crore

The government has fixed an indicative value for Delhi's iconic 'The Ashok' hotel at Rs 7,409 crore under the national monetisation programme, according to sources

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The Ashok Hotel | Delhi

Press Trust of India  |  New Delhi 



'The Ashok', 7 other ITDC hotels to be monetised in next 4 years

The government has fixed an indicative value for Delhi's iconic 'The Ashok' hotel at Rs 7,409 crore under the national monetisation programme, according to sources.

The Ashok and the adjacent hotel Samrat are among the eight India Tourism Development Corp assets listed under the National Monetisation Pipeline (NMP) announced by Finance Minister Nirmala Sitharaman last year.

The sources said investor consultation has already been undertaken and a cabinet note for the sale of the sprawling 25-acre property in the heart of the national capital is under consideration.

"The Ashok hotel's monetisation will take place through public-private partnership(PPP) mode and an indicative value of the hotel has been fixed at Rs 7,409 crore," the sources told PTI.

In August 2021, Sitharaman announced the Rs 6 lakh crore NMP over four years to unlock value in infrastructure assets across sectors.

Niti Aayog in consultation with infrastructure line ministries had prepared the report on the NMP.

The finance minister in a meeting with Niti Aayog CEO Parameswaran Iyer on November 14 reviewed the progress of NMP implementation.

The government has monetised assets worth Rs 33,422 crore under the NMP in 2022-23 so far with the Coal Ministry leading the list by raising Rs 17,000 crore, and the Ports and Shipping Ministry surpassing its overall fiscal target.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Thu, November 24 2022. 17:25 IST

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