Minister for Investments and Infrastructure B.C. Janardhan Reddy has defended the State government’s decisions on the Ramayapatnam Port project, asserting that the agreement was transparent and structured to ensure long-term revenue for the government.
In a press release issued on Monday, Mr. Janardhan Reddy said the agreement provided for an upfront premium of ₹1,500 crore, revenue sharing, minimum guaranteed revenue and a non-dilutable 12% equity stake for the government.
Rejecting the Opposition’s criticism, he said the government would retain a 12% equity stake in the nearly ₹20,000 crore investment proposed to be made by the concessionaire in various phases of the project.
Mr. Janardhan Reddy also sought an explanation from YSR Congress Party president Y.S. Jagan Mohan Reddy on the sale of the government’s 10.40% stake in Gangavaram Port to the Adani Group, and asked under what terms the transaction had taken place.
Disputing Mr. Jagan Mohan Reddy’s claim that 95% of the physical work at Ramayapatnam Port had been completed during the YSRCP regime, the Minister said the project had achieved 80.50% progress only in the last 20 months.
He also rejected allegations that land for the port expansion was being allotted at ₹1 an acre, describing them as baseless and politically motivated.
Stating that the public-private partnership model was widely followed in the port sector, Mr. Janardhan Reddy said 108 of the country’s 119 seaports were operating under the PPP model. He added that the Kakinada, Krishnapatnam and Gangavaram ports had been functioning successfully under the PPP model for nearly three decades.
Published – July 20, 2026 06:54 pm IST
