The Jaganmohan Reddy Government has been facing criticism from the beginning that it is giving total advantage to the Gujarat based industrialists. In the process, the ruling YSRCP is not hesitating to harm the interests of the AP companies and industrialists. Now, the question arose once again with the Adani Group grabbing 100 percent stake in the Krishnapatnam Port in the Nellore district of AP.
Last year itself, Adani had acquired 75 percent stake in the Krishnapatnam Port. This year, the remaining 25 percent stake was also bought by Adani. As of now, the total value of the port was estimated at Rs. 13,675 Cr. The new acquisition of 25 percent stake was done by spending Rs. 2,800 Cr.
The Adani Group has huge plans to develop the Krishnapatnam port into the Gateway of Andhra Pradesh. Its present handling capacity is about 64 million tonnes cargo. In the next five years, the Group aims to increase the port capacity to nearly 3,000 million tonnes.
Meanwhile, the rivals are criticising that the Jagan Reddy regime is giving advantage to the Adani Group just because the CM is facing the CBI and ED cases.
