The Adani Group has asked the AP government to sell the government share in the Gangavaram port. The government has set up a committee with top officials to look into the possibilities. A six-member committee headed by CCLA Neerab Kumar Prasad was formed. The AP government has a 10.40 per cent stake in Gangavaram port. If each share is sold for Rs.120, then the AP government will get Rs 645.1 crore.
DVS Raju, Windy LakeSide has already sold 58.10 and 31.50 per cent stake in Gangavaram Port to Adani Group. It is reported that the Gangavaram Port to be owned by the Adani Group. This is because it is known that the Adani Group recently announced that it has purchased the majority of shares in the port. It seems like Adani Ports aims to grow into a nationwide cargo utility company.
Source: Telugu Bulletin