RINL-VSP put its `beautiful guest houses’ on long-term lease to tide over financial crisis
The Hindu
RINL-VSP in Visakhapatnam auctions non-core assets, invites EoI for long lease of Ukku House and Gangavaram Guest House.
After completing the process of auctioning its non-core assets such as vacant lands, Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant (RINL-VSP), under the Union Ministry of Steel, is now keeping two more key assets for long lease to overcome its financial crisis.
It has also invited Expression of Interest (EoI) from interested entrepreneurs to submit their proposals by April 15.
As per internal decisions taken by RINL-VSP management after prior consultations with the Ministry, the company is said to have decided to lease out its prominent guest houses — Ukku House and Gangavaram Guest House— through open auction on long term lease (approximately 30 years) for operation and maintenance.
The Ukku House is spread over five acres of land with 116 rooms, banquet halls, restaurant and kitchen. It is located near to Andhra MedTech Zone, Pharma companies, major government industries like NTPC Simhadri. Its nearest beaches are Appikonda, Yarada and NTPC Beach. It is 10 km from Visakhapatnam Airport and 20 km from Visakhapatnam Railway Station. Its nearest railway station is Duvvada (6 km).
Gangavaram Guest House is located on Gangavaram beach and next to Adani Gangavaram Port with lush gardens, panoramic views of the Bay of Bengal and the mountains.
“Yes, we have invited EoI for lease of the two guest houses. The objective of the EoI is to monetise the guest houses to generate immediate and future cash flows. RINL is looking for an agency or hotel operator who will be a potential partner for the Operation and Maintenance for maximum 30 years,” a RINL-VSP official told The Hindu.
When contacted, CITU honorary president J. Ayodhya Ram said, “It is an anti-worker decision of the Centre and RINL management. We condemn this proposal. We will fight against it. The government will give an opportunity to anti-nationals by leasing out the guest houses, which are located near to Eastern Naval Command and other key central government institutions.”
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
Terming the caste census report ‘politically motivated’, the Opposition BJP has urged Chief Minister Siddaramaiah to get a fresh survey done in a scientific and authentic manner. The party has also decided to hold a meeting of its leaders on Monday to discuss the implications of the report.
The Tiruchi City Police launched a weekend special operation in their jurisdiction on Saturday in an effort to prevent crime
Protestors in Hyderabad rally against new Waqf legislation, fearing erosion of Muslim endowments and autonomy of governing bodies.
Farmers’ Welfare Commission chairman urges ryots to focus on horticulture crops
Mohun Bagan Super Giant head coach credits quality players and hard work for ISL Cup victory.
Tamil Nadu Forest Department studies mugger crocodile population to reduce human-crocodile conflict in Cauvery delta.
Tamil Nadu HR&CE Minister inaugurates medical centre at Kulasekarapattinam Mutharamman temple, part of temple restoration initiative.
Hyderabad Water Board won't double tanker charges for homeowners without rainwater harvesting pits, aiming to promote conservation.
Preparations underway for B.R. Ambedkar's birth anniversary at Chaityabhoomi and Deekshabhoomi with heightened security and cultural events.
KFRI revives GI-tagged Kannadippaya craft, training new weavers to preserve tradition and expand market opportunities.
BJP MLA Munirathna accuses Bengaluru Minister Shivakumar of corruption in SWD contracts, sparking political controversy.
Axar Patel leads Delhi Capitals against Mumbai Indians; Faf du Plessis injured, Abhishek Porel replaces him. MI remains unchanged.
NHAI constructing foot overbridges on Salem-Ulundurpet highway to prevent pedestrian accidents, opening near Muthumalai Murugan Temple soon.