AP govt maintains ‘secrecy’ over Gangavaram stake sale to Adani!

The Andhra Pradesh cabinet headed by Chief Minister YS Jaganmohan Reddy met on Tuesday (yesterday) and took various key decisions.

All those decisions were disclosed to media on Tuesday except AP government’s stake sale to Adani and make Adani Group a total owner of Gangavaram port with no stake of AP government.

Why cabinet maintained ‘secrecy’ on this issue has become a hot debate in political circles.

The AP government is left with just 10% stake in Gangavaram port and the Adani Group had already acquired 90% stake so far.

It came to light on Wednesday (today) that the cabinet approved to sell off leftover 10% stake to Adani for Rs 645 crore at the rate of Rs 120 per share.

The Jagan government is already facing severe criticism of handing over AP government’s companies to Gujarat-based companies.

The Jagan government handed over AP Dairy to Amul Group and now Gangavaram port to Adani Group.