VANPIC


Vadarevu and Nizampatnam Industrial Corridor or VANPIC is an upcoming industrial park located between Guntur district and Prakasam district in Andhra Pradesh India. It is spread over 13,000 acres. It is under CBI investigation for land acquisition and other allegation. Around 4000 acres was acquired for port development. Large tracts of land was acquired from local farmers. In April 2011, the property consultant, Jones Lang LaSalle estimated the 13,000 acres at Rs.1426 crores.

History

The land was acquired by the government in 2008.

Location

It is located near Nizampatnam in Guntur district.

Investigation

Former minister Mopidevi Venkataramana was arrested in the case by the CBI, and minister Dharmana Prasad Rao resigned over allegations. Another company, VANPIC projects was started by industrialist, Nimmagadda Prasad and Ras Al Khaimah, and the company was allotted 24,000 acres by the government.
The mechanisms of the large scale corruption in the case was highlighted in the fourth charge sheet filed by the CBI in the Jagan Reddy corruption case. The charge sheet relates to the VANPIC project:
The "suitcase company" methodology was succinctly described by Supreme Court of India Chief justice P. Sathasivam, in his judgment rejecting a bail application for Jagan Reddy: