Vanpic got 13,000 acres as quid pro quo

The CBI has alleged that the state government led by YSR, had doled out many favours in the form of the Vanpic project, shipyard, the green field airport at Ongole, concessions to the project in the form of alienation of huge chunks of assigned and government lands to the companies floated by Prasad, exemptions for levy of stamp duty and registration charges, seigniorage fee etc.

Vanpic Projects Private Limited controlled by Mr Prasad has so far got about 13,000 acres of land in the project area as a quid pro quo, the CBI has alleged. In January 2008, Mr Prasad incorporated Matrix Enport Holdings Private Limited. In Febru-ary the same year, adviser to the government of Ras Al Khaima (RAK) Mr A.J. Jagannathan addressed the state expressing an interest to partner with the AP government in the proposed Vadarevu and Nizampatnam port projects on a government to government (G2G) basis. In March 11, 2008, the state government and the government of RAK signed an MoU for development of the Vanpic project.