Adani pares AP investments from Rs 70,000 crore to Rs 3,000 crore

Hyderabad: The Andhra Pradesh government headed by YS Jaganmohan Reddy has asked the Indian multinational Adani Group to credibly revise its investment plans with precise time frames and investments, making the Gautam Adani-headed conglomerate to substantially slash its investment plans.

This comes weeks after the new government in Andhra decided to reclaim around 4,700 acres of land allotted to Navayuga Group’s Krishnapatnam Infratech near Nellore after cancelling contracts of Polavaram irrigation and Machilipatnam port awarded to Navayuga by the previous regime of Chandrababu Naidu.