Govt. of A.P. has decided to cancel industrial corridor project of Ras Al Khaimah Investment Authority and Matrix Enport Holdings Pvt. Ltd. According to this project agreement, an investment of Rs. 16000 crore was possible.
State Infrastructure and Investments Minister Mr. G. Srinivas told that Govt. of A.P. has finally decided to cancel this project. According to his statement, this project did not have the sanction from Ministry of External Affairs. State Govt. had accorded sanction with Ras Al Khaimah Investment Authority and Matrix Enport Holdings Pvt. Ltd. In collaboration with Vanpic Ports Limited. It had entered into an agreement for the construction of Industrial Corridor for Nizam Patnam in Gunter District. According to this agreement, 51% shares were given to Ras Al Khaimah Investment Authority and Matrix Enport Holdings Pvt. Ltd.
Authentic sources revealed that the basic reason for the cancellation of this agreement is CBI investigations against the involvement of Mr. YS Jagan Mohan Reddy for the allotment of lands. Govt. is avoiding giving clear explanation about this cancellation which affected the investment of Rs.16000 crore.
–Siasat News