Now, it’s time for VSP to showcase its potential: Sribharat

Now, it’s the time for the Visakhapatnam Steel Plant to showcase its potential to the nation, said Vizag MP M Sribharat while hailing the Rs 11,440-crore special package announced for the plant.

Speaking at the TDP office in the city after arriving from Delhi, the MP urged the plant employees and workers to utilise the funds effectively. He exuded confidence that the package would yield tenfold returns to the country in future.

The package, which includes new equity infusion, working capital support, and permission to issue preference shares, would inject new energy into the steel plant’s operations, observed the MP.

“Vizag Steel is the pride of the people who achieved it after a united struggle. During the tenure of Atal Bihari Vajpayee as the Prime Minister, when the plant had faced operational challenges, leaders like N Chandrababu Naidu, K Yerrannaidu, and my grandfather MVVS Murthy had fought relentlessly to save it. Today, to ensure the revival of Vizag Steel, leaders like Prime Minister Narendra Modi, Chief Minister N Chandrababu Naidu, Union Ministers Nirmala Sitharaman and Kumaraswamy have worked collectively to announce this package,” said the MP.

“Plans are being prepared to utilise the package effectively. Talks are on with the NMDC for raw material supply and steps are being taken to strengthen ancillary units and enhance material security for the steel plant,” he said.

The MP underlined the need to bring comprehensive reforms at all levels of the steel plant. He assured that, as the local MP, he would take the responsibility for initiating steps in collaboration with the Ministry of Steel to ensure these reforms.

Sribharat recalled that one of his seven election manifesto promises was to prevent the privatisation of Vizag Steel Plant. “From the moment I took oath as an MP, I started discussions with leaders like Kumaraswamy and others to highlight the challenges faced by the plant. I also consistently briefed Central Ministers on the situation and assured workers of their livelihood. Today, the Central government’s decision on this package validates the trust placed in me by the people,” Sribharat said, expressing his gratitude.

This package for the Visakhapatnam Steel Plant was possible due to the efforts of Chief Minister Chandrababu Naidu, Deputy Chief Minister Pawan Kalyan, and Minister Nara Lokesh, he said and thanked them for their dedicated effort to achieve it.

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This article is written by Senior Journalist Lakkoju Nagesh Babu