Amaravati, July 19 (SocialNews.XYZ) Former Andhra Pradesh Chief Minister and YSR Congress Party president Y.S. Jagan Mohan Reddy on Sunday slammed the Chandrababu Naidu government for what he termed turning the Ramayapatnam port into a scam to generate cash flows for the bigwigs of the Telugu Desam Party (TDP).
He alleged that disinvestment in the Ramayapatnam port is at the State’s expense.
The YSR Congress chief posted on X that the TDP government is offering a port on which the government is spending Rs 4,929 crores against an upfront payment of only Rs 1,500 crores by private parties, causing significant loss to the State exchequer.
He said the State government will have to endure the debt servicing burden to the tune of over Rs 3,500 crores.
“What kind of economics is this,” he asked Chief Minister Chandrababu Naidu.
Jagan wrote that port-led development provides enormous potential for economic growth of Andhra Pradesh. He stated that the YSR Congress Party government ensured commendable progress in the development of three ports at Ramayapatnam, Machilipatnam and Mulapeta.
He added that his government completed crucial tasks such as land procurement, statutory approvals, including financial closure, and the execution of EPC contracts for the projects, ensuring significant physical progress before June 2024.
He cited examples of economic development linked to the Ramayapatnam port, including BPCL’s upcoming greenfield refinery and petrochemical complex and Indosol Solar’s Giga Scale manufacturing plant.
He said the BPCL plant, with a refining capacity of 9–12 MMTPA and an estimated investment of over Rs 1 lakh crore, is capitalising on the port’s deep-water capabilities to import crude oil. The Indosol facility, he noted, is designed as a fully integrated “quartz-to-module” ecosystem, with proximity to the port crucial for importing raw materials and exporting finished solar modules.
He further mentioned that JSW Steel is developing two berths at the Ramayapatnam port to handle bulk raw materials such as iron ore and coking coal, which are needed for the integrated steel plant being constructed in YSR Kadapa district.
He said these projects contribute immensely to job creation and to increasing the State’s revenues.
“While there are so many economic advantages possible from the development of Ramayapatnam port, both in terms of securing investments to the State and contributing significantly to the Tax and Non-tax revenues of the State Government, all that the TDP Government can think of is the means to turn the Ramayapatnam port into a scam to generate cash flows for the bigwigs of the TDP,” he added.
Source: IANS
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