Delhi-based Jayaprakash Power Ventures Ltd (JP Power) has won tenders for sand mining, storage, and sale in the state. The company operates the largest hydroelectric power plant in the country.
The Andhra Pradesh Mineral Development Corporation (APMDC) has finalized tenders for the three packages after JP Power quoted a higher price. This will generate revenue of Rs 765 crore per annum for the government. This is 20 percent more than last year.
The State Department of Mines has entrusted MSTC with the responsibility of selecting a qualified company to carry out sand excavation, storage, and sale in a transparent and uninterrupted manner.
MNTC invited e-tenders while KNR Constructions, Jayaprakash Power Ventures, and Trident Confer Ltd submitted bids. JP company quoted Rs 477.50 crore for the first package, Rs 745.50 crore for the second package, and Rs 305.60 crore for the third package, while the other two companies quoted a lower price. JP Power will carry out sand excavations for two years.