Hyderabad, Sept 14 :
Influence of business barons, industrialists on YSR’s successor
More than the common man it is the business community and the industrialists, both from within the State and at the national level, who are closely monitoring the day-to-day developments in Andhra Pradesh and are influencing the Congress High Command’s decision on the successor of Dr Y S Rajasekhara Reddy, who died in a chopper crash on September 2.
Undoubtedly, YSR was a man of the masses. But he had good dealings with many industrialists, businessmen and realtors. Real estate and infrastructure are the key areas where political support plays a major role in Andhra Pradesh.
The fate of the projects which they were handling in the state now hang in a balance. Going by the statistics all the major industrialists in the country, from the Ambanis (who have gas and pipeline interests in the Krishna-Godavari basin) down to medium and large realtors, have committed to invest in the state following YSR's re-election in May, 2009. The industrialists have invested thousands of crores and a major change in the leadership in the state may upset the calculations of these business barons.
Jagamnohan Reddy, son of YSR, is aware of most of the commitments made by his father to the industrialists. It is no surprise that these industrialists root for Jagan as the chief ministerial candidate. The allotment of developing the two ports of Vodrevu in Nizampatnam, and Krishnapatnam, were bagged by Mr Nimmagadda Prasad, popularly known as Matrx Prasad, the Director of the Pharma giant, Matrix. According to the original proposal the land required was only 9,700 acres but the plan was revised to grant 28,000 acres. Both these projects are at the initial stages. Same is the case with the Obulapuram Mining Company(OMC). The company sought for the allotment of 10,000 acres of land but the YSR regime had alienated 10,700. Apart from it, YSR himself recommended to the Centre to sanction a loan of Rs 10, 000 crore to Mr Gali Janardhan Reddy, the owner of OMC, and Cabinet Minister in the neighbouring Karnataka State.
On the constructions front, right from multi national companies like the Gammon to native companies like the Nagarjuna Constructions are involved in the Jalayagnam, the pet irrigation project of YSR. The major chunk of state funds amounting to Rs 1,30,000 crore are allocated to Jalayagnam, irrigation projects.
Sources close to these industrialists say that unless a successor with the same commitment to complete the projects by getting the finances is named by the Centre it will be difficult for them to make any progress. And hence, the pressure of business and industrial heads will have its own impact on the chief ministerial candidate.