Home Business Center fixes indicative price of Rs 7,409 crore for iconic 'Ashoka' hotel

Center fixes indicative price of Rs 7,409 crore for iconic ‘Ashoka’ hotel

Ashoka is one of the eight India Tourism Development Corporation properties listed under the NMP. (File)

New Delhi:

According to sources, the government has fixed a token price of Rs 7,409 crore for Delhi’s iconic ‘The Ashoka’ hotel under the National Monetization Programme.

The Ashoka and the adjacent Hotel Samrat are among the eight India Tourism Development Corporation properties listed under the National Monetization Pipeline (NMP) announced by Finance Minister Nirmala Sitharaman last year.

Sources said investor consultations have already been done and a cabinet note is under consideration for the sale of the sprawling 25-acre property in the heart of the national capital.

“The monetization of Ashoka Hotel will happen through public-private partnership (PPP) mode and the indicative price of the hotel has been fixed at Rs 7,409 crore,” sources told PTI.

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

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

The Finance Minister reviewed the progress of NMP implementation in a meeting with NITI Aayog CEO (Chief Executive Officer) Parameswaran Iyer on 14 November.

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

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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