The controversial Brahmani Steel company has been put on sale in China and some Chinese steel companies are coming forward to takeover scrapped steel company owned by the tainted industrialist and politician Gali Janardhan Reddy, who was a close aid of former AP Chief Minister YS Rajasekhara Reddy.
In the China visit, AP Chief Minister N Chandrababu Naidu held meetings with steel companies. During the meeting, Naidu explained business potential in the steel industry Andhra Pradesh.The Chief Minister offered incentives to the companies that come forward to invest in AP. The revival of Brahmani project was also discussed and some companies evinced interest to take over the scrapped company.
Brahmani Steel Company was shut down after the irregularities in allotting the lands came to light during the investigation on the company’s owner Gali Janardhan Reddy and YSR’s son Jagan’s disproportionate assets case.
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