Red sanders 2nd phase e-auction from today

Hyderabad, June 17: Stage is set for holding the second phase of the e-auction of the seized red sanders logs. The four-day auction would take off from today. Despite the clash with Telangana government on the note-for-vote case, the AP government is all geared up for the e-auction. The government hopes to generate around Rs 2,000 crore revenue through the auction of nearly 3,500 tonnes of red sanders, according to sources. Out of the total 3,500 tonnes, 875 tonnes each are of A and B grade and the remaining about 1800 tonnes is of C grade quality. The government netted an income of about Rs 800 crore during the first auction. It sold the A, B and C grade logs at a price of Rs 20, Rs 15 lakh and Rs 12 lakh per tonne respectively. This time the rate of A grade timber will be Rs 30 lakh per tonne. Already foreign (mostly Chinese) and others have inspected the logs kept in Renigunta near Tirupati. Metal State Trading Corporation would conduct the auction.