The monetisation of India Tourism Development Corporation (ITDC)’s prized property The Ashok with land parcels will likely kick off soon with the floating of expression of interest (EoI), sources told FE.
“The ITDC has readied the draft EoI,” a senior official said. The government is keen on the conclusion of a leasing deal as soon as possible to redevelop the asset in the heart of Lutyens’ Delhi.
Currently, the Centre owns 87.03% of ITDC while Tata Group’s Indian Hotels Company (IHCL) holds a 7.86% stake.
The proposed transaction is being structured as a public-private partnership (PPP) under which the hotel and land parcels will likely be leased out for the long term. The Public Private Partnership Appraisal Committee…
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