Center Fixes Rs 7,409 Crore Indicative Value For Iconic ‘Ashok’ Hotel

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

New Delhi:

The government has set an indicative value for the iconic ‘The Ashok’ hotel in Delhi at Rs 7,409 crore under the national monetization program, according to sources.

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

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The sources said an investor consultation has already been held and a cabinet bill for the sale of the sprawling 25-hectare estate in the heart of the national capital is being considered.

“Revenue of the Ashok hotel will be through public-private partnership (PPP) and the indicative value of the hotel has been set at Rs 7,409 crore,” the sources told PTI.

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

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

The Finance Minister discussed the progress of the NMP implementation at 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 in raising Rs 17,000 crore, and the Ministry of Ports and Shipping surpassing its overall tax objective.

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