Hyderabad, May 8 (UNI) Andhra Pradesh Finance Minister K Rosaiah today said the total loss estimated in the fire that broke out at the Asia's largest Guntur chilli market yard last week was about Rs 56 crore.
Addressing the press here, he said while market yard property worth Rs seven crore and an equal amount of traders property were completely gutted, about 90,000 chilli bags, worth Rs 27 crore, kept in the sheds by farmers for trading were reduced to ashes.
Stating that the government would provide a compensation of Rs 1,200 per chilli bag weighing 40 kg, he said the chillies already sold to traders had the insurance coverage. The government had discussed with the insurance companies to pay the money to the traders and farmers.
The fire accident occurred due to electrical short circuit and sparks from the wires were primary reason for the spread of fire, he said.
Announcing that the government would set up a new chilli market on the outskirts of Guntur, he said officials were already instructed to acquire land and instal advanced fire safty machines.
The government had decided to set up 'Terminal market' at the old market yard where fruits, vegetables and meat stalls would be opened, he said adding fire safty measures would also be taken up in all market yards, including the cotton yards in the state.
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