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Union Minister of Steel confirms revival plan for Vizag Steel Plant

HD Kumaraswamy, the Union Minister of Steel, has assured that the Vizag Steel Plant won't be privatized. He also said that a revival plan will be rolled out for the PSU.

"A revival fund of Rs 8,000 crore and a transfer of 22,000 acres of land from the President to Rashtriya Ispat Nigam Ltd, the corporate entity of Visakhapatnam Steel Plant, has been sought," a report says.

While the Centre's taking this stance is ostensibly dictated by the compulsions of coalition politics, it is also true that privatization wouldn't have been undesirable. "RINL incurred a loss of Rs 2,859 crore the previous financial year and its capacity was running much below the 7 MT capacity," a recent newspaper report said.

https://x.com/hd_kumaraswamy/status/1811313779969568805


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