LIC, GIC show interest in shopping for Air India building in Bombay

Mumbai: as the govt is nonetheless to require a appeal swing the 23-storeyed Air India Building within the Nariman purpose business hub of south Bombay on the block, several PSUs like LIC and GIC have evinced interest within the prime property, a senior airline official same on Fri.

It is noted that LIC and GIC have their headquarters within the proximity to the Air India building here, that additionally happens to be the erstwhile headquarters of the national carrier.

“No call has been taken thus far on merchandising the Air India building. however some corporations, majorly the general public sector undertakings like LIC and GIC have shown sizable interest in it. this can be except JNPT,” the official same.

The national carrier had collected Rs 291 large integer as lease rentals from the property between FY13 and January 2018.

The government had in Gregorian calendar month started discussions purchasable of the long-lasting tower to Jawahar Lal Nehru Port Trust (JNPT) as a part of Air India’s quality proof plans. It additionally came once the government’s efforts to part denationalize Air India didn’t set out.

With over Rs fifty five,000 large integer debt its its books, Air India management has been attempting to pare burden by monetising non-core property properties.

“We expect the valuation of the property to travel up once several corporations showing interest in it. we are going to assess valuation and consequently decide once to travel for bids,” the official same. in keeping with Air India’s audited accounts, the airline’s total losses stood at Rs forty seven,145.62 large integer in 2016-17.

The government had in could same that Air India has mopped up Rs 543.03 large integer from proof of its assets in prime locations, like Bombay and urban center.(FA9NEWS)

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