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Jagan Accuses Naidu of Scam in Port Privatization

Jagan Accuses Naidu of Scam in Port Privatization
Andhra: Jagan alleges scam in privatisation of Ramayapatnam Port · thehansindia.com

Y.S. Jagan Mohan Reddy, a former chief minister of Andhra Pradesh, accused the current government led by Chandrababu Naidu of turning the Ramayapatnam Port into a scam.

He said the government is spending a lot of money on the port but only getting a small amount from private companies, which causes a big loss for the state.

Jagan mentioned that the port is important for economic growth and has attracted big projects like a BPCL refinery and a solar plant by Indosol.

He believes the current government is not using the port's potential for the state's benefit but instead for their own gain.

Key facts

Port
Ramayapatnam Port
Government Spending
Rs 4,929 crores
Upfront Payment
Rs 1,500 crores
Debt Servicing Burden
Rs 3,500 crores
BPCL Refinery Capacity
9–12 MMTPA
BPCL Investment
Rs 1 lakh crore
Projects
BPCL refinery, Indosol Solar plant, JSW Steel berths

Quotes

Y.S. Jagan Mohan Reddy

Former Andhra Pradesh Chief Minister and YSR Congress Party president

“What kind of economics is this”
thehansindia.com

Sources

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