River project was fixed too

Apr 02, 2012 |

Hyderabad

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Investigations by the CBI have revealed that Dalmia and India Cements had invested Rs 95 crore in Raghuram cements (Bharati Cements, formerly promoted by Mr Jaganmohan Reddy).

“Dalmia was given a limestone mining lease of 407 acres in Kadapa in 2008 and India Cements got its lease renewed in Kadapa and was also given permission to draw lakhs of gallons of water from the Krishna River,” said CBI DSP, H. Venkatesh, the investigating officer.

Meanwhile Pioneer Infrastructure Holding Limited, owned by Mr Penna Pratap Reddy, was awarded the Jalayagnam contracts and a mining lease for limestone in Tandur.

The company also benefited from the relaxation of building regulations for star hotels. As a quid pro quo, the group had invested around Rs 88 crore in Mr Jagan Mohan Reddy’s firms.

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