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bsnl: The government has listed for sale real estate assets of state-run telecom firms MTNL and BSNL

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bsnl: The government has listed for sale real estate assets of state-run telecom firms MTNL and BSNL

Highlights

  • 1st phase of asset monetization in MTNL and BSNL
  • Part of Rs 69,000 crore revival plan
  • The revival plan was approved in October 2019

New Delhi
The government has listed the immovable properties of public sector telecom companies MTNL and BSNL for sale at a reserve price of around Rs 970 crore. This information has been obtained from documents uploaded on the website of Department of Investment and Public Asset Management (DIPAM). BSNL’s properties are located in Hyderabad, Chandigarh, Bhavnagar and Kolkata, and have a reserve price of Rs 660 crore for sale.

MTNL properties located at Vasari Hill, Goregaon, Mumbai have been listed for sale on the DIPAM website at a reserve price of approximately Rs 310 crore. Similarly, 20 flats of MTNL located in Oshiwara have also been put up for sale as part of the company’s asset monetization plan. Their reserve price ranges from Rs 52.26 lakh to Rs 1.59 crore. The flats have 2 units with 1 room set, 17 units with 1BHK and 1 unit with 2BHK. The e-auction of MTNL properties will be held on December 14.

The first phase of asset monetization in both the companies
According to a PTI report, PK Purwar, chairman and managing director of BSNL, says that this is the first phase of asset monetization in MTNL and BSNL. Bids have been invited for BSNL assets worth Rs 660 crore and MTNL assets worth Rs 310 crore. We plan to complete the entire process within a month and a half.

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69,000 crore revival plan was passed in the year 2019
The asset monetization is part of the Rs 69,000 crore revival plan for MTNL and BSNL that was approved by the government in October 2019. These two public sector firms were to identify and monetize assets worth Rs 37,500 crore by 2022. “We will go ahead with the market demand for asset monetization,” Purwar said.

Input: PTI

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