Comments
MTNL has approached the government with a proposal to monetise surplus land and reduce debt. The debt laden company says it has up to ₹5,000 crore worth of real estate that can be monetised readily.
“We have real estate available with us, which is not being effectively utilised. So, we have submitted a proposal that some of that real estate we would like to redevelop, or sell land and building... The proceeds can be utilised for debt reduction,” MTNL Chairman and Managing Director P K Purwar told PTI.
Purwar said that in the first tranche nearly ₹3,000-5,000 crore worth of land is “readily available” for the monetisation plan but did not share the overall value of the assets it has.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.