Steel Plant workers protest under the rain against RINL disinvestment

Opposing Centre’s decision to privatise Visakhapatnam Steel Plant (VSP), the workers and trade unions continued to protest in the city. On Tuesday, hundreds of employees blocked all the routes to the steel plant in Vizag, and the administration block, demanding Centre to take back its decision. The morning rain didn’t deter their resolve as they continued to protest for hours. One set of protestors was sitting on the road with placards in their hands while the remaining protestors were standing and holding umbrellas over their heads.

It may be recalled that Visakhapatnam steel plant workers had held a dharna at Jantar Mantar, and Andhra Pradesh Bhavan, in New Delhi last month, against the privatisation of the Vizag Steel.  

A few days back, the Department of Investment and Public Asset Management (DIPAM), of the Union Ministry of Finance, extended the last date for hiring transaction advisors till 26 August 2021. The transaction advisors are to facilitate 100 percent strategic disinvestment of RINL, the corporate entity of Visakhapatnam Steel Plant. 

Taking note of the protest by the steel plant workers against the privatisation decision, Centre had recently clarified that the capital received through the disinvestment of RINL will facilitate the modernisation and expansion of the plant, as well as the implementation of better management practices. According to Centre, once fully privatised, Visakhapatnam Steel Plant will contribute to the economic development of Andhra Pradesh.

To understand the Visakhapatnam Steel Plant privatisation issue, here’s a timeline of events highlighting all that has transpired into this issue so far.