Itanagar, May 18: Arunachal Pradesh Government on Thursday has take over the full charge of the Donyi Polo Ashok Hotel here after a share transfer agreement was signed between Indian Tourism Development Corporation Ltd (ITDC) and Arunachal Pradesh Industrial Development and Financial Corporation Ltd (APIDFC) here.
Chief Minister Pema Khandu was also present during the agreement signing ceremony, an official release informed. Now, the state government will own 100 percent share in the hotel through the APIDFC, and the word ‘Ashok’ will be done away with. As per the share agreement, 51 per cent equity share is transferred from ITDC to APIDFC. The Hotel Donyi Polo Ashok Corporation Ltd is a joint venture project of ITDC and APIDFC established consequent upon execution of promoters’ agreement for JV project on January 7, 1982 on 51:49 ratios of equity shares.