The reason behind acquiring the Telangana owned organization is still unknown. Andhra Pradesh chief minister YS Jagan Mohan Reddy delivered a deadly blow to Telangana CM KCR by issuing a GO (government order) taking over Andhra Pradesh Heavy Machinery and Engineering Ltd (APHMEL) unilaterally.
APHMEL belongs to Singareni Collieries Ltd and located near Vijayawada. It produces machinery which is used by Singareni.
Singareni Collieries is owned by Telangana governent with a stake of 51 per cent while Centre owns remaining 49 per cent.
Singareni Collieries has 84 per cent stake in APHMEL.
Telangana government and Singareni Collieries are strongly opposing giving away APHME to AP on the ground that it does not belong to AP and it is owned by Singareni Collieries, which is owned by Telangana.
Despite this, Jagan issued orders taking over APHMEL on the ground that it is located in AP. APHMEL has assets and a huge land bank valued at over Rs 600 crore.
This sudden development shocked Singareni as well as TS government.
Singareni took up this issue with KCR, who too expressed shock and anguish over AP government’s move.
KCR reportedly told Singareni officials that he will speak to Jagan and ensure that he revokes the GO.
KCR told them that he and Jagan are maintaining ‘cordial relations’ and expressed confidence that Jagan will revoke the GO and handover APHMEL back to Singareni soon. #KhabarLive