Jharkhand govt signs MoU with ITDC to take over Hotel Ashok in Ranchi

Jharkhand government on Tuesday signed a memorandum of understanding (MoU) with Indian Tourism Development Corporation (ITDC) as a part to take over Hotel Ashok, a property spread over around three-acre of land in Ranchi, in presence of Chief Minister Hemant Soren.

According to provisions of MoU, ITDC will sell its 51 per cent stake to Jharkhand Tourism Development Corporation for Rs 3.06 crore, JTDC General Manr Alok Prasad said. "It is a major initiative. re are many areas that need development and tourism is one of m. It also has potential to create a large number of employment opportunities," Soren said after MoU was signed.

Pooja Singhal, Secretary of Department of Tourism, said that talks are on with Bihar Tourism Development Corporation (BTDC) to buy its 36.75 per centre in hotel. hotel was set up as a joint venture between ITDC and BTDC with a share ratio of 51:49. After Jharkhand was created carving out a part of Bihar in 2000, BTDCs share was split between two states. MoU was signed by ITDC Director Piyush Tiwari and JTDC Director A Dodde. 

(Im Credits: Twitter/@HemantSorenJMM)