The Andhra Pradesh government, under the aegis of Machilipatnam Urban Development Authority (MUDA), started purchasing land for the proposed deep sea port here in Krishna district on Monday.
The MUDA had recently borrowed Rs 200 crore for the land purchasing scheme, through which estimated 1,500 acre would be bought from private land owners and farmers. The AP Mineral Development Corporation had sanctioned the loan.
On Monday, AP Law and Sports Minister K Ravindra accompanied by MP K Narayana Rao and MUDA Chairman B Vedayas began the purchasing programme with 16.30 acre from nine farmers. Later, the farmers were handed over cheques worth Rs 4.05 crore.
The state government has promised Rs 25 lakh per acre in the land purchasing scheme.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app