JNPT may sail into Mumbai landmark - Air India Building
Mumbai, June 27: If all goes according to plan, the country's premier container terminal, Jawaharlal Nehru Port Trust (JNPT) may buy out Mumbai's landmark, the Air India Building, the erstwhile headquarters of the country's flag-carrier, official sources indicated here on Wednesday.
The Central government has already set in motion the process for the proposed sale - as part of an innovative measure to raise funds for the beleaguered airline after recent efforts for a strategic disinvestment proposal crash-landed.
Well-placed sources from the JNPT confirmed that a high-level committee from the Civil Aviation Ministry and Shipping Ministry has been constituted to work out the nitty-gritties including the valuation of building sitting on one of the most prime pieces of real estate in the world, Nariman Point.
"So far, we have not received any official communication in this regard, but we are hopeful it will come in due course," an official, who declined to be identified, told here.
The developments follow a green signal from the PMO and an inter-ministerial panel formed to hammer out the modalities of the proposed sale, as well other aspects like the name of building, its existing tenants which are source of huge revenue for the national carrier.
Some prominent realtors in south Mumbai declined to speculate a probable value for the majestic white-hued 23-storeyed tower standing at the entrance of Nariman Point on the Arabian Sea at the southern end of Marine Drive, with the AI's massive revolving logo on its terrace visible from long distances in south Mumbai.
However, they explain that given its "ultra-prime location in the heart of the CBD", it could fetch a very handsome figure for the AI, which is buried under accumulated debts of around Rs 50,000 crore.
After the deal finalizes smoothly, besides the JNPT, only PSU Shipping Corporation of India would be having its own skyscraper at Nariman Point, the area which has the offices of several major Indian and international shipping companies and allied services, plus a couple of five-star hotels and an arts complex, prominent media houses, and the Mantralaya - the Maharashtra government headquarters.
The Air India Building, among the most sought-after commercial addresses in the city, was one of the 13 prominent targets during the March 12, 1993 serial bombings in Mumbai, considered the biggest single act of terror which left 257 dead and 713 injured in a matter of two hours.
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Mangaluru: Special trains to Chennai for Vishu festival
Mangaluru: To clear extra passenger rush during the Vishu festival, the Southern Railway has announced special train services between Mangaluru Central and Chennai Egmore.
According to an official release, Train No. 06126 Mangaluru Central-Chennai Egmore Special will depart Mangaluru Central at 4:00 pm on April 6 and 13, reaching Chennai Egmore at 10:30 a.m the next day.
In the return direction, Train No. 06125 Chennai Egmore-Mangaluru Central Special will leave Chennai Egmore at 2:00 pm on April 7 and 14 and arrive at Mangaluru Central at 6:50 am the following day.
The train will have two AC two-tier, eight AC three-tier, six sleeper class, four general second class coaches, one Divyangjan-friendly coach, and one luggage-cum-brake van.
In a seperate announcement, the southern railway also announced special service between between Bengaluru Cantonment and Dr. MGR Chennai Central to manage the extra rush of passengers.
Train No. 06545 will depart from Bengaluru Cantonment at 08:05 am on Thursday, 9th April and is scheduled to reach Chennai Central at 3:00 pm on the same day. The return service, Train No. 06546, will leave Chennai Central at 4:45 pm on the same day and reach Bengaluru Cantonment at 11:00 pm.
