The Jaganmohan Reddy Government has appointed a high level committee to sell its shares in the Gangavaram port in Andhra Pradesh. The State Government has got over 10.40 percent shares. The six-member high level committee consisting of Chief Commissioner of Land Administration Neerabh Kumar Prasad will look into the matter now.

Reports say that each share of the Gangavaram port will come to Rs. 120. At this rate, the AP Government would get Rs. 645 Cr towards its total shares. The committee members will look into the possibility and scope for selling these shares in the Gangavaram port to a private company.

The high level committee is appointed after the Gujarat-based Adani Group has proposed to buy all the shares of the AP Government. If this becomes a reality, the State Government will have no stake at all and Gangavaram will become a totally private port.

Only a few months ago, two private players sold their shares to Adani. DVS Raju and Windy Lakeside sold their 58.10 percent and 31.50 percent shares respectively to the Adani Group.

Already, the opposition parties are criticising the Jagan regime for ‘handing over’ AP properties to the Gujarat-based companies like Amul Dairy industry.