VSP will not be privatised, reiterates Steel Minister

Union Minister for Steel and Heavy Industries D K Kumaraswamy has reiterated that the Visakhapatnam Steel Plant will not be privatised.

Addressing the media after interacting with the company representatives, officials and leaders of trade unions in Visakhapatnam on 30 January, Kumaraswamy said the government was committed to reviving the plant.

Pointing out that the performance of the plant was good till 2014 and it also achieved Navaratna status. However, it had started incurring losses when efforts were made to increase the productivity. At present, the debts of the plant mounted to Rs 35,000 crore, he said.

Kumaraswamy further said that Prime Minister Narendra Modi fixed a target of producing over 300 million tons of steel by 2030 as the country was in the second position with regard to steel production.

The Minister assured the plant workers of solving their problems in three months.

Earlier, Kumaraswamy and Union Minister of State for Steel Bhupathiraju Srinivasa Varma were given a rousing reception by leaders and cadre of the Alliance parties when they arrived in the city for the first time after the Centre announced the revival package for the steel plant.

The two Ministers were taken in a procession from the airport to the Visakhapatnam Steel Plant.

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This article is written by Senior Journalist Lakkoju Nagesh Babu