To expedite the monetisation plans for government-owned land property throughout the nation, the National Land Monetisation Corporation (NLMC) has determined to rope in international property consultancy companies to assist strategise and implement transactions from begin to end.
Following an announcement within the 2021-22 Union Budget, the NLMC, steered by the Department of Public Enterprises was arrange final 12 months to undertake monetisation of surplus land and constructing property of central public sector enterprises (CPSEs) and different authorities companies.
These property might be core property which might be below operation by a public company akin to transmission traces, roads or a railway line or might be non-core property that are in surplus, unused or under-used (largely comprising of land, buildings and different immovable properties), with no clear and current plan for optimum use within the close to future.
The Corporation has now invited proposals from international property consultancy companies (IPCs) or different companies engaged in transaction advisory companies, asset monetisation or mission monetisation which can be empanelled to help within the “formulation of monetisation strategy, conducting technoeconomic feasibility studies of each asset and provide end-to-end transaction advisory services and ensure completion of transactions for monetisation of the assets”.
A pre-bid convention with potential consultants is scheduled for subsequent week, mentioned an official conscious of the event, who added that the empanelled companies’ duties might embody aiding in NLMC’s monetisation plans proper from step one that entails switch of such property to the Corporation from public sector companies being closed or the place strategic disinvestment is being undertaken. The official spoke on the situation of anonymity.
The Department of Investment and Public Asset Management, presently engaged on the strategic gross sales of a number of PSUs, together with Concor, Shipping Corporation of India and BEML – has been steering the demerger of those corporations’ non-core and land property earlier than they’re placed on the block.
As per the mandate, the property consulting companies may also be required to help in finalising monetisation fashions and transaction construction for particular person property, finalising their valuation, making ready bid paperwork and holding street exhibits for potential buyers.
