No plans to privatise Visakhapatnam Steel Plant right away, says Union Minister

In an interesting development, Union Minister of State for Steel and Rural Development Faggan Singh Kulaste has said, “There are no plans of Visakhapatnam Steel Plant privatisation right away. At the moment, our primary focus is strengthening VSP by opening more wings.” The minister added that discussions are underway with the RINL authorities regarding the plant development.

When asked about the Telangana government’s move to take part in the plant’s bidding, Faggan Singh quoted, “It is in the purview of that state government and the Centre was in no way connected to it.” He said the Centre is keen on sorting out the captive mines issue and holding talks with the plant authorities on the same.

Union Minister Faggan Singh made these remarks on the privatisation of the steel plant while talking to the media after taking part in the Rozgar mela organised in Visakhapatnam on Thursday. He was in the city to hold talks with the VSP authorities and to participate in a couple of other programmes.

The Minister’s remarks assumed significance in the backdrop of the Telangana government’s decision to participate in the bidding of Expression of Interest (EOI) proposals to buy steel plant products in return for capital investment. The Telangana government has taken the decision to stall the privatisation of the plant by the Union Government.

It triggered a row and led to a war of words between leaders of YSRCP and BRS. The Telangana government has already sent a team to Visakhapatnam to facilitate participation in the bidding process.

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