ITANAGAR, May 17: The state government has taken over the Hotel Donyi Polo Ashok.
The Indian Tourism Development Corporation (ITDC) and the Arunachal Pradesh Industrial Development and Financial Corporation (APIDFC) on Thursday signed a share transfer agreement (STA).
Now, the state government will own 100 percent share in the hotel through the APIDFC, and the word ‘Ashok’ will be done away with.
Chief Minister Pema Khandu was present at the signing of the agreement.
As per the STA, 51 percent equity share will be transferred from the ITDC to the APIDFC. The Hotel Donyi Polo Ashok Corporation Ltd was a joint venture project of the ITDC and the APIDFC, which was established on 7 January, 1982, on a 51:49 equity share ratio. (CMO)
