Jayaprakash Power Ventures Bags Bid For Mining of Sand in AP
Jayaprakash Power Ventures Limited (JPVL), a part of the Jaypee Group, has bagged the bid for mining of sand in Andhra Pradesh, offering an annual revenue of Rs 765 crore to the state government. MSTC Limited, a mini-ratna under the Union Ministry of Steel, selected the successful bidder on behalf of the state government, an official release said on 20th March. JPVL would undertake sand mining, storage and sale for a period of two years under the upgraded sand policy, 2019. The government divided the state into three zones for sand excavation in different reaches and JPVL offered the highest price for each of the three packages, the release said. The state earned Rs 161.30 crore revenue from sand in 2019-20 and Rs 380 crore in the 2020-21 financial year (up to February). The price of sand will be uniform at each reach across the state, with an upper ceiling regionally based on distance. "Customers can lodge a complaint to the authorities concerned if higher rates are charged. Strict action will be taken on such complaints," the government said. The government, however, imposed a ban on sand excavation in patta (private) lands.
Tags : ALLIED sand AP Jayaprakash Power Ventures Bid