While in the Opposition, YS Jagan Mohan Reddy used to repeatedly ridicule Chandrababu Naidu resorting to Real Estate. He would mock Chandrababu every time he said Amaravati as a Self financing project as lands with the Government after farmers share and infrastructure needs will come handy to finance the project.
Jagan would always call Chandrababu a Real Estate agent. But once in power, Jagan is also relying on the same lands. We have already seen the Government trying to sell Government lands in the name of Mission Build AP to fund various welfare schemes. The Chief minister is majorly pitching the same idea to save Vishaka Steel Plant.
Vishaka Steel Plant has a Land Bank of 7000 acres. The Chief Minister is pitching the idea of making layouts in these vacant lands and sell them for a premium to finance the Steel plant’s debt and operations. This idea also looks like another Real Estate idea. “If Jagan Mohan Reddy called Chandrababu Naidu a Real Estate agent, what he is now?,” TDP supporters question.
Coming to the idea of selling the vacant lands, this is a stop gap arrangement. The only solution is getting captive mines for the Steel Plant and may be converting debts into equity.