Jagan urged not to sell AP share in Gangavaram port

Visakhapatnam: The Forum for Development of North Andhra has urged the State government not to sell its 10.39 per cent equity share in Gangavaram Port to the Adani Group and suggested that it should either take over the Gangavaram port or request the Centre to bring it under the control of Visakhapatnam port. In a […]

Visakhapatnam: The Forum for Development of North Andhra has urged the State government not to sell its 10.39 per cent equity share in Gangavaram Port to the Adani Group and suggested that it should either take over the Gangavaram port or request the Centre to bring it under the control of Visakhapatnam port.

In a letter addressed to the Chief Minister YS Jaganmohan Reddy here on Friday, the Forum referred to the recent Cabinet decision to sell the stake for Rs.645 crore.

“According to official information, Gangavaram port extends on 2800 acres. In fact, the land was acquired for setting up the Visakhapatnam steel plant. The then state government had allotted the land to Gangavaram port at less than market value. Had the government given it at market rate, the state government’s share would have been as high as 90 per cent in the Gangavaram port. The decision then put the government to loss and the private port has benefited. Now, according to the Revenue department, the value of the land is Rs.2,392 crore which is three times more than the now proposed rate,” Forum general secretary A. Ajay Sarma pointed out.

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