KOCHI: The Fertilisers and Chemicals Travancore (FACT) has nearly dropped plans to lease out its Ambalamedu Guest House, with no company from the hospitality sector evincing interest in the 48-room guest house.The FACT management in 2016 had invited Expression of Interest (EoI) for long-term lease of the property from companies in the hospitality or healthcare sector. Tucked away on 40 acres of lush greenery, far removed from the bustle of city life, the Ambalamedu House is a magnificent building complex and a synthesis of modern and traditional Kerala-style architecture.
Though the company management hoped the Ambalamedu House’s iconic status will evoke a tremendous response, it did not happen. The facility comprises the guest house building having a built-up area of around 4,700 sq m, with a three-storeyed central block of 48 double-rooms with attached bathrooms.
The authorities said FACT is now no longer actively pushing the proposal to lease out the property as there were no takers when it was offered a year ago.
It may be noted the discussion on utilisation of FACT land for development projects such as expansion of BPCL- Kochi Refinery and proposed petrochemical projects are under way. In such a situation, the failure to attract any would-be lessee simply does not matter,’’ said the FACT authorities.
FACT has been reporting losses for the last several years. From a loss of `49 crore in 2011, the company incurred a loss of nearly `500 crore in 2015.