Visakhapatnam: BJP smells rat in power deals

Visakhapatnam: BJP alleged 'insider trading' in the issue of MoUs signed by the state government with some companies belonging to close associates of the Chief Minister YS Jagan Mohan Reddy on hydro, solar and wind power projects. It pointed out that the government issued GOs on the execution of project before agreements were signed in the Vizag summit.

Speaking at a media conference here on Wednesday, BJP Andhra Pradesh political feedback pramukh Lanka Dinakar pointed out that the GOs were issued by the state government prior to the recent summit pertaining to the MoUs entered by the Shirdi Sai Engineering Ltd, Indosol and Arabindo for the hydro power projects belong to close associates of the Chief Minister.

Reiterating that the promoters for Indosol and Shirdi Sai Electricals Ltd were the same, he said existence of insider trading could not be ruled out and that the state government is allotting acres of land to these companies and expressed doubts on their source of investment which is beyond the companies' strength.

He further alleged that the state government had sidelined the Union government's PSU NHPC for the benefit of private business entities like Indosol and Shirdi Sai Electricals Ltd, Aurabindo, etc., that are close to the Chief Minister.

In the presence of BJP state vice-president P Vishnu Kumar Raju and parliamentary district president Raveendra Medapati, Dinakar revealed that some of the documents and correspondence between Union and state government entities and subsequent GOs issued by the state government facilitated undue advantage for the private parties and close associates of YS Jagan Mohan Reddy.

Despite requesting approval for the DPR through the ministry of power since 2021 for NHPC with a capex investment capacity of Rs 31,500 crore, Dinakar said the Chief Minister sidelined it and entertained small companies like Indosol and Shirdi Sai Electricals.