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The CPM party has condemned the reported move by the D.V.S Raju group to sell its stake of 58 per cent to Adani group and hand over the management of the port to the group.
Rumours are rife here that the DVS Raju group, holding the majority stake in the port, has already taken a decision to sell its stake for $ 2 billion and hand over the port to Adani group. The Gangavaram management, however, denied any such moves.
In the backdrop, the local CPM leaders at a press meet here on Friday condemned the reported move and wanted the State Government to take charge of the port, if the DVS Raju group wanted to make an exit. The port should never be allowed to fall into the hands of the Adani group, said B. Ganga Rao, the city secretary of the CPM.
He said that if the Adani group took over Gangavaram it would spell danger to the Visakhaptnam main port which is in the public sector. "Adani group is the darling of certain BJP leaders and Telugu Desam leaders. However, Gangavaram port should be saved. Already, Dhamra port in Orissa has fallen into the hands of the Adani. There are reports that Gangavaram is the next one in line," he said.
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