Former Andhra Pradesh Chief Minister, Y.S. Jagan Mohan Reddy, and YSR Congress Party president, criticized the Chandrababu Naidu government for allegedly turning the Ramayapatnam port into a scheme benefiting the Telugu Desam Party (TDP) elites. He accused the government of causing a substantial loss to the state exchequer by offering the port for an upfront payment of Rs 1,500 crores while the state spends Rs 4,929 crores on it.
Jagan Mohan Reddy raised concerns about the economic impact of the disinvestment, highlighting that the state government would bear a debt servicing burden exceeding Rs 3,500 crores. He emphasized the potential for economic growth through port-led development in Andhra Pradesh and pointed out the progress made by the YSR Congress Party government in developing ports at Ramayapatnam, Machilipatnam, and Mulapeta.
The former Chief Minister cited specific projects linked to the Ramayapatnam port, such as BPCL’s upcoming refinery and petrochemical complex and Indosol Solar’s manufacturing plant. He noted that these projects, including JSW Steel’s development of berths at the port, are crucial for job creation and revenue generation for the state.
Jagan Mohan Reddy criticized the TDP government for allegedly prioritizing personal gains over the economic benefits that could be derived from the development of the Ramayapatnam port. He underscored the potential investments and revenue contributions that could be realized through the port’s development, accusing the TDP of mismanaging the port’s disinvestment for the benefit of party members.
