Jayaprakash Power Ventures Limited (JPVL), a part of the Jaypee Group, has bagged the bid for mining of sand in Andhra Pradesh with an annual revenue potential worth of ₹765 crore. MSTC Limited, which is an entity under the Union Ministry of Steel, selected the successful bidder on behalf of the state government. JPVL would undertake sand mining, storage and sale for a period of two years under the upgraded sand policy, 2019. The government divided the state into three zones for sand excavation in different reaches and JPVL offered the highest price for each of the three packages. The price of sand will be uniform at each reach across the state, with an upper ceiling regionally based on distance.
📅Published on:
25 March 2021
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