Sunday, January 3, 2016
Andhra Pradesh Finance Minister Yanamala Ramakrishnudu said that the tenders would be called for auction of sand under the policy on January 8, 2016.
The State Cabinet sub-committee constituted to finalize parameters and modalities and fix the price met here today and would against meet on January 7 to finalize the modalities for the auction. The new policy would come into effect from February 15. Yanamala Ramakrishnudu who presided over the sub-committee meeting said tht the auction would be for mining 1.5 crore cubic meters of sand. The maximum price for cubic meter would be Rs.550 and transport cost would be extra. He said that besides online auction, conventional auction would also be carried out. However, permission given would be cancelled if any irregularities were found during the mining after winning the bid, he said.
The Finance Minister said that the government had earned Rs.850 crore during the last 16 months from sand sale.