AMARAVATI: Jaiprakash Power Ventures Ltd.(JVPL), a part of the Jaypee Group, (Jaypee) bagged the bid to undertake sand mining for a period of two years in the State of Andhra Pradesh.
As per the press release, Metal Scrap Trade Corporation (MSTC) a PSU under the Union Ministry of Steel, selected JPVL to undertake sand mining, storage and sale under the upgraded sand policy, 2019 and is expected to generate about Rs.765 Crores per annum under the up-graded Sand Policy.
The firm has bagged the contract after bidding for Rs 477.50 crore in first package, Rs 745.70 crore in the second package and Rs 305.60 crore in the third package.
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 release said.
The state earned Rs 161.30 crore revenue from sand in 2019-20 and Rs 380 crore in the 2020-21 financial year (up to February).
It may be recollected that the State Department of Mines and Geology entered into a Memorandum of Understanding (MoU) in January with MSTC Ltd, a Central Government Undertaking to select the eligible agency to undertake sand mining, storage and sales in a transparent and impartial manner.
.S.T.C, through their website issued a tender announcement for selection of the agency that is technically and financially qualified. After examining the technical qualifications of all the eligible bidders, confirmed the name of JVPL. Delhi- based JVPL operates the largest hydroelectric power plant in India and is a leading private company in the country in power generation apart from other services like Engineering & Construction, Cement, Power, Real Estate, Expressways, Fertilizer, Hospitality, Healthcare etc.
As part of the upgraded Sand Policy will make the following facilities available to the customers: