Telangana HC orders release of 11,804 acres of Vanpic land from ED attachment

In connection with an investigation into the alleged disproportionate wealth of Andhra Pradesh Chief Minister YS Jagan Mohan Reddy, the Enforcement Directorate (ED) had attached assets, including those of the Vadarevu and Nizampatnam Port & Industrial Corridor (Vanpic). The ED claimed that several companies, including Vanpic, had received favorable treatment from YS Rajasekhara Reddy (YSR), the then Chief Minister of Andhra Pradesh and father of Jagan Reddy. It was alleged that these companies had invested in Jagan Reddy’s businesses as part of a quid pro quo arrangement.

As a result of the investigation, both Jagan Mohan Reddy and industrialist Nimmagadda Prasad were arrested by the Central Bureau of Investigation (CBI) and subsequently sent to jail. However, they were later released on bail.

It is worth noting that my knowledge is based on information available up until September 2021. Therefore, I recommend referring to the latest news sources or official statements for the most accurate and up-to-date information regarding the developments in this case.

In March 2008, the government of Andhra Pradesh (AP), headed by Chief Minister Y.S. Rajasekhara Reddy (YSR), initiated a significant project known as Vanpic. This project aimed to establish two seaports and an industrial corridor within the state. To accomplish this, the AP government entered into a government-to-government agreement with the emirates of Ras Al Khaimah (RAK) in the United Arab Emirates (UAE). The project was estimated to cost around Rs 16,000 crore.

Under this agreement, the AP government facilitated the acquisition of land required for the Vanpic project. The project involved the development of two seaports, which would serve as important trade and logistics hubs, and an industrial corridor that would encourage industrialization and economic growth in the region. The seaports were envisioned to enhance maritime connectivity and enable efficient import-export activities, boosting the state’s economy.

The government-to-government agreement between the AP government and RAK aimed to leverage the expertise and resources of both parties to ensure the successful implementation of the project. The emirates of RAK, with their experience in infrastructure development and investment, were expected to contribute to the project’s financing and execution. This agreement reflected the growing economic ties between India and the UAE, as well as the willingness of both parties to collaborate on large-scale infrastructure projects.

The Vanpic project was intended to attract investment, promote employment opportunities, and spur overall development in the region. It held the potential to transform the coastal areas of Andhra Pradesh, facilitating trade, industrialization, and economic prosperity. However, it is important to note that the project faced various challenges and controversies in subsequent years, which affected its progress and implementation.

Please note that the information provided is based on the knowledge available up until September 2021, and there may have been further developments or changes regarding the Vanpic project since then.

Even as the probe into the allegations was going on, the emirate of RAK expressed serious concern about the fate of its investment of over Rs 845 crore in the project, and raised the issue with the Indian government.