Former Minister Vadde Sobhanadreeswara Rao on Friday welcomed the government’s decision to terminate agreements with Singapore-based companies.
Addressing the media here, Mr. Rao said he had advised former Chief Minister N. Chandrababu Naidu against finalising tenders using the Swiss Challenge System, but the latter failed to respond. The existing rules were changed to favour the Singapore companies, he alleged.
By investing just ₹306 crore, the Singapore companies would have got benefit to the tune of ₹ 3,604 crore. The loss to Andhra Pradesh would have been huge, he said.
The Telugu Desam Party leaders’ campaign that no investments would come to the State if the agreement with the Singapore companies was cancelled, was totally false, Mr. Rao said.
He said that the State government should rethink the construction of skyscrapers in the Capital region.
