Nation Other News 21 Mar 2021 Jayaprakash Power Ve ...

Jayaprakash Power Ventures gets sole sand mining rights in AP

DECCAN CHRONICLE.
Published Mar 21, 2021, 1:38 am IST
Updated Mar 21, 2021, 7:19 am IST
Jaypee Group entity wins bid for sand mining, storage and sales in Andhra Pradesh
Officials informed that as the stockyard is being set up at the reaches, they can check the quality of the sand directly at the ramps, pay the money at the reach of their choice. —  Representational image/DC
 Officials informed that as the stockyard is being set up at the reaches, they can check the quality of the sand directly at the ramps, pay the money at the reach of their choice. — Representational image/DC

VIJAYAWADA: The Metal Scrap Trade Corporation (MSTC) Limited has selected  Jayaprakash Power Ventures Ltd to undertake sand mining, storage and sales for a period of two years in a transparent and impartial manner.

The state government had announced an upgraded sand policy vide G.O.No.78, Department of Industries and Commerce (M.III), dated 12-11-2020.

 

Director of the department of mines and geology entered into a MoU on 04-01-2021 with M/s. MSTC Ltd to select the eligible agency for undertaking sand mining, storage and sales for a period of two years.

MSTC Ltd confirmed that M/s. Jayaprakash Power Ventures Ltd was the successful bidder as they announced the highest price for all three packages. The company is part of the Jaypee Group.

Officials informed that M/s Jayaprakash offered Rs. 477.50 crore for package-1, Rs. 745.70 crore for package-2 and for Package – 3, Rs 305.60 crore.

 

The officials informed that under the existing policy, AP Government has earned a net income of Rs 161.30 crore for the financial year 2019-20 and Rs. 380.00 crore for the current financial year (2020-21), up to February 2021. The upgraded sand policy is expected to generate about Rs.765 crore per annum.

Officials informed that as the stockyard is being set up at the reaches, they can check the quality of the sand directly at the ramps, pay the money at the reach of their choice and take the required quantum of sand in vehicles arranged by them. The price will be uniform at every reach in the state and a price with the upper ceiling is determined regionally based on distance. Details of the phone numbers to complain about the higher rates will be made available to the public.

 

The officials further informed that there is no need to apply online for sand and there will be no involvement of the transport conglomerate or middlemen in sand supply. Those who cannot afford to arrange their own vehicles will have the option of obtaining sand through a transport conglomerate.

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