|| All Are Committed, Yet, Vizag Steel On Sale ||
DP supremo and Leader of the Opposition N Chandrababu Naidu wrote a letter to Prime Minister Narendra Modi on Saturday and appealed to him to stop the privatisation process of Rashtriya Ispat Nigam Limited (RINL), a Navratna PSE and the corporate entity of Visakhapatnam Steel Plant (VSP).
It is necessary to look for alternative options that could turn the fortunes of the RINL Steel Plant for the better, creating a win-win situation for all the stakeholders, he said.
Naidu described the steel plant as the pride of not only Visakhapatnam and Andhra Pradesh but also the country.
Stating that VSP is the crown of Andhra Pradesh and one of the largest steel manufacturers, he observed that the Vizag Steel Plant is facing losses due to absence of captive mines and high interest rates on loans.
In this backdrop, if the Government of India or the Government of Andhra Pradesh provides captive mines to the RINL, it will provide the opportunity and the potential to turn the fortunes of the steel plant. At current market price, the land that the steel plant is located alone costs about Rs 1.5 lakh to 2 lakh crore. The steel plant is the lifeline of North Andhra, and provides livelihood to lakhs of people, directly and indirectly, he mentioned in the letter.
https://www.newindianexpress.com/states/andhra-pradesh/2021/feb/21/chandrababunaidu-writes-to-modi-urges-him-to-explore-options-to-save-visakhapatnam-steel-plant-2266852.html
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|| All Are Committed, Yet, Vizag Steel On Sale || DP supremo and Leader of the Opposition N Chandrababu Naidu wrote a letter to Prime Minister Narendra Modi on Saturday and appealed to him to stop the privatisation process of Rashtriya Ispat Nigam Limited (RINL), a Navratna PSE and the corporate entity of Visakhapatnam Steel Plant (VSP). It is necessary to look for alternative options that could turn the fortunes of the RINL Steel Plant for the better, creating a win-win situation for all the stakeholders, he said. Naidu described the steel plant as the pride of not only Visakhapatnam and Andhra Pradesh but also the country. Stating that VSP is the crown of Andhra Pradesh and one of the largest steel manufacturers, he observed that the Vizag Steel Plant is facing losses due to absence of captive mines and high interest rates on loans. In this backdrop, if the Government of India or the Government of Andhra Pradesh provides captive mines to the RINL, it will provide the opportunity and the potential to turn the fortunes of the steel plant. At current market price, the land that the steel plant is located alone costs about Rs 1.5 lakh to 2 lakh crore. The steel plant is the lifeline of North Andhra, and provides livelihood to lakhs of people, directly and indirectly, he mentioned in the letter. https://www.newindianexpress.com/states/andhra-pradesh/2021/feb/21/chandrababunaidu-writes-to-modi-urges-him-to-explore-options-to-save-visakhapatnam-steel-plant-2266852.html
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