In a move to pare its debt, Air India has asked the National Building Construction Company (NBCC) to prepare a detailed project report (DPRs) on monetisation of its prime properties located at Baba Khadak Singh Marg in Connaught Place and Vasant Vihar in the national Capital.
The property at Vasant Vihar is spread on 30 acres and it houses Air India’s staff colony. The property at Baba Khadak Singh Marg is spread across 16,000 square metres. Air India is expected to raise Rs 3,000-4,000 crores through this monetisation process.
These two properties were surrendered by Air India to the Ministry of Housing and Urban Affairs last year.
The Government wants to expedite monetisation of Air India’s immovable assets to reduce its debt burden in a bid to make the airline attractive for privatisation.
Top sources said Air India has come up with a fresh roadmap on asset monetisation to tackle its fiscal woes. “At a high-level meeting held last week, Air India asked the NBCC to make separate roadmap for each properties,” sources added. As per the plan, the NBCC will make residential projects in the Vasant Vihar property, while it will raise commercial projects on the Baba Khadak Singh Marg property.
19/09/18 Pioneer
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The property at Vasant Vihar is spread on 30 acres and it houses Air India’s staff colony. The property at Baba Khadak Singh Marg is spread across 16,000 square metres. Air India is expected to raise Rs 3,000-4,000 crores through this monetisation process.
These two properties were surrendered by Air India to the Ministry of Housing and Urban Affairs last year.
The Government wants to expedite monetisation of Air India’s immovable assets to reduce its debt burden in a bid to make the airline attractive for privatisation.
Top sources said Air India has come up with a fresh roadmap on asset monetisation to tackle its fiscal woes. “At a high-level meeting held last week, Air India asked the NBCC to make separate roadmap for each properties,” sources added. As per the plan, the NBCC will make residential projects in the Vasant Vihar property, while it will raise commercial projects on the Baba Khadak Singh Marg property.
19/09/18 Pioneer
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