Wednesday, July 11, 2018

Government starts process of selling Air India Mumbai headquarters

The iconic Air India building at Mumbai’s Nariman Point would soon have a new owner in the Jawaharlal Nehru Port Trust, with the financial advisors in the ministries of shipping and civil aviation beginning the process of appointing private evaluator for the takeover.

“The evaluation process will take a month or two, following which the building would be bought by JNPT,” Shipping Minister Nitin Gadkari told Business Standard. The exercise is being undertaken after the proposed stake sale of the national carrier failed to attract investors.

The 23-storey building at Nariman Point is the national carrier’s headquarters and is prime real estate that is expected to fetch high valuation.
11/07/18 Megha Manchanda & Aditi Divekar/Business Standard

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