Reddy's non-existent steel plant reveal Late YSR connection

Hyderabad, Sep 11: The mining baron, Janardhan Reddy's business links with Former Andhra Pradesh minister Y S Rajasekhara Reddy comes into light when the truth got unearthed that how the Gali brothers made crores out of a fictitious steel plant aided by YSR. The steel plant never came up, but , the Reddys were allowed to export all the iron ore that he was exclusively permitted to in the name of the project.

YSR alloted 10,760 acres of government land to Janardhan Reddy. The steel plant was named Brahmani Steels. Four years on, there was no sign yet of the steel plant. Mr Reddy, managed to raise Rs. 350 crore by using the land that he had procured for just Rs. 18 crore from the YSR government. He also reportedly exported 54 lakh tonnes of iron ore that was meant to be used by the steel plant.

"We will also make a big airport here. Like Hyderabad, Chennai and Bangalore, aircraft will come and land right here", Mr Reddy had proclaimed.

"Allotment of iron ore, that is captive mining, to Obulapuram Mining Company, Anantapur Mining Company and 3-4 more companies, that decision was taken by YSR, not the Cabinet. The concessions to Brahmani Industries, the Cabinet is collectively responsible", state minister D L Ravindra Reddy said.

While this process was on, the Opposition thrashed the government for helping the mining magnate manipulate the process.

OneIndia News