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.
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