By S A Ishaqui
Hyderabad, April 12 : The state government informed the Andhra Pradesh High Court that the proposed Hyderabad Economic City project was given the guarantee of the government of RAS-Al-Khaimah through its nominated agency, the RAK Investment Authority (RAKIA).
Mr B. Sam Bob, principal secretary of industries and commerce department, had submitted an affidavit to the court stating that there was no law that prohibits the government to enter into an agreement with other governments and companies to serve the interests of the people.
The High Court had earlier issued a notice to the government seeking its version on a petition filed against the allotment of lands to the project. Mr Bob, in his reply, said that the project is envisaged with a huge investment and when projects of such magnitude are taken up, there was heavy competition among many state governments which try to attract investments by giving various concessions.
He said that there was no risk factor involved in the agreement and the government has taken all measures to protect and preserve its lands. He told the court that Tamil Nadu, Karnataka, Kerala and Gujarat had also started joint venture with RAS-Al-Khaimah.
He contended that the discretion conferred on the government to take the decision was not misused.
While refuting the contentions of the petitioner, Mr Bob said that no land was either conveyed or transferred or even contemplated to be transferred in favour of RAKIA. He submitted to the court that lands are to be assigned to the joint venture company as per the terms of collaboration agreement.
The lands which were assigned to the JVC was treated as equity investment of the state government in the project. He urged the court to dismiss the petition as there was no public interest involved in it.
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