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Center sets indicative value of Rs 7,409 Crore for iconic hotel ‘Ashok’

The Ashok is among eight assets of the India Tourism Development Corp listed under the NMP. (Queue)

New Delhi:

The government has set an indicative value for Delhi’s iconic ‘The Ashok’ hotel at Rs 7,409 crore under the national monetization scheme, sources say.

The Ashok and the adjacent Samrat Hotel are among eight assets of the India Tourism Development Corp listed under the National Monetization 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 nation’s capital is under consideration.

“The monetization of Ashok Hotel will be done in public-private partnership (PPP) mode and an indicative value of the hotel has been set at Rs 7,409 crore,” the sources told PTI.

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

Niti Aayog, in consultation with the ministries responsible for infrastructure, had prepared the report on the NPM.

The Minister of Finance in a meeting with CEO of Niti Aayog (Managing Director) Parameswaran Iyer on November 14 reviewed the progress of the implementation of NMP.

The government has monetized assets worth Rs 33,422 crore under NMP in 2022-2023, with the Ministry of Coal topping the list by raising Rs 17,000 crore, and the Ministry of Ports and shipping exceeding its overall budget target.

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

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