9500 Crore ‘Andhra’ Investment Goes To Telangana

The Jagan-led YCP government has been facing a lot of heat for all the reverse tendering and anti-development works they’ve been doing for the past 3 years. Now, the government has successfully scared off an investment worth Rs 9500 crore.

Going into the story, Galla Jaydev’s Amara Raja Batteries set out to establish a Lithium-Ion Gigafactory in Galla family’s hometown of Tirupati. The intention was to create employment opportunities for the workforce in Galla families home place.

However, the Jagan government harassed Amara Raja Batteries to an extent where they had to leave the investment plan and shift to Telangana.

The Jagan government claimed the industry would pose an environmental hazard and they started to take back the lands which were originally issued for the development of the industry. With all the harassment, Galla decided to drop their plans.

Now, Amara Raja Batteries have signed an MoU with the Telangana government to establish a Gigafactory in Mahbubnagar with an investment of Rs 9500 crore in a period of 10 years.

Thus, the Jagan government has successfully warded off another big-money investment in the state.