Captive mines, merger with SAIL, revocation of strategic sale must to save Visakhapatnam Steel Plant: B.V. Raghavulu
1 week, 5 days ago

Captive mines, merger with SAIL, revocation of strategic sale must to save Visakhapatnam Steel Plant: B.V. Raghavulu

The Hindu  

Wondering what benefit has the financial package given by the Centre done to Visakhapatnam Steel Plant, CPI Polit Bureau Member B.V. Raghavulu said the ₹11,000 crore package was not to save VSP or its employees, but to enable the plant to clear its debts to banks. Initially, we thought that package was meant to enable VSP tide over its financial crisis, but it later turned out to be otherwise, Mr. Raghavulu, who was in the city to participate in the CPI district plenary, said at a media conference, in Visakhapatnam, on Saturday. Mr. Raghavulu demanded allocation of captive mines to VSP, its merger with Steel Authority of India Limited and revocation of the decision on strategic sale of VSP. Visakhapatnam Steel Plant sets record with 31 lakh tonnes of hot metal production despite financial crisis Mr. Raghavulu ridiculed the statements of Mr. Chandrababu Naidu attributing the hike in electricity charges to the agreement made by the previous government with SECI, and that cancellation of that agreement would result in imposition of penalties on power consumers.

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History of this topic

Steel Ministry Secretary to discuss revival of Visakhapatnam Steel Plant with Andhra Pradesh CM Chandrababu Naidu on March 31
1 week, 3 days ago

Steel Ministry Secretary to discuss revival of Visakhapatnam Steel Plant with Andhra Pradesh CM Chandrababu Naidu on March 31

The Hindu  

Industries & Commerce Minister T.G. Bharat stated that the Secretary of Ministry of Steel was scheduled to have a discussion with Andhra Pradesh Chief Minister N. Chandrababu Naidu in Amaravati on March 31 about the revival of Visakhapatnam Steel Plant and improving its performance. Visakhapatnam Steel Plant sets record with 31 lakh tonnes of hot metal production despite financial crisis …

MP urges VSP staff to effectively utilise revival package
1 month, 3 weeks ago

MP urges VSP staff to effectively utilise revival package

The Hindu  

Visakhapatnam MP M. Sribharat urged Visakhapatnam Steel Plant employees and workers to utilise the special revival package funds of ₹11,440 crore effectively. The package, which includes new equity infusion, working capital support, and permission to issue preference shares, will inject new energy into the steel plant’s operations, he added. Today, to ensure the revival of VSP, leaders like Mr. Naidu, …

Govt. is focused on making Vizag Steel Plant thrive again, says Andhra Pradesh IT Minister Lokesh
1 month, 3 weeks ago

Govt. is focused on making Vizag Steel Plant thrive again, says Andhra Pradesh IT Minister Lokesh

The Hindu  

Andhra Pradesh IT and HRD Minister N. Lokesh said the State government was not merely content with the financial package announced for the revival of Visakhapatnam Steel Plant, but rather focused on how to make it thrive and contribute back to the nation. Mr. Lokesh said he thanked Mr. Kumaraswamy for the support extended for the revival of VSP, and …

VSP will breakeven by this year-end: H.D. Kumaraswamy
Trending News
1 month, 3 weeks ago

VSP will breakeven by this year-end: H.D. Kumaraswamy

Deccan Chronicle  

Visakhapatnam: Union minister of steel H.D. Kumaraswamy forecast that the Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant, will achieve operational breakeven by the end of this year, overcoming all hurdles. Talking to reporters after visiting the various departments of VSP on Thursday, the union minister said the package announced by the central cabinet for the Visakhapatnam …

Visakhapatnam Steel Plant has ₹35,000 crore liabilities, says Steel Secretary Sandeep Poundrik
1 month, 3 weeks ago

Visakhapatnam Steel Plant has ₹35,000 crore liabilities, says Steel Secretary Sandeep Poundrik

The Hindu  

The Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant, has liabilities of ₹35,000 crore with defaults in loan and interest payments, according to Sandeep Poundrik, Secretary, Ministry of Steel. “Therefore, it is the collective responsibility of every stakeholder, including employees, to work towards the betterment of the plant and clear the debts with dedication and commitment,” Mr. …

Varma says VSP likely to get another financial package for revival
2 months ago

Varma says VSP likely to get another financial package for revival

Deccan Chronicle  

Vijayawada: Union minister of state for heavy industries and steel Bhupathiraju Srinivasa Varma expressed confidence that the Visakhapatnam Steel Plant may receive another significant financial package for its revival. Varma ruled out the privatisation or merger of VSP with SAIL, emphasising that the recent ₹11,440 crore package was sanctioned to reduce debts and revive operations. The minister criticised allegations linking …

Palla lashes out at YSRCP for criticising Centre’s financial package for VSP
2 months ago

Palla lashes out at YSRCP for criticising Centre’s financial package for VSP

The Hindu  

TDP-AP president Palla Srinivasa Rao lashed out at the YSR Congress Party leaders over their remarks on the Central Government’s financial package to Visakhapatnam Steel Plant. Addressing a press conference at Gajuwaka on Monday, Mr. Srinivasa Rao said that VSP was in a precarious condition during the YSRCP government. The financial package of ₹11,440 crore now offers a lifeline to …

Centre announced financial package to VSP with aim to privatise: Vice-president of Andhra Intellectual Forum
Trending News
2 months, 1 week ago

Centre announced financial package to VSP with aim to privatise: Vice-president of Andhra Intellectual Forum

The Hindu  

Andhra Intellectual Forum’s State vice-president professor Golivi Appala Naidu alleged that the Central Government had announced ₹11,440 crore package to Visakhapatnam Steel Plant with an aim to privatise the plant through the backdoor. In a statement, in Srikakulam, on Sunday he said that the Union Government’s equity would go up to 56% and VSP’s equity would be reduced to 43% …

Visakhapatnam Steel Plant aid package will yield significant returns for India in future, says MP Sribharat
2 months, 1 week ago

Visakhapatnam Steel Plant aid package will yield significant returns for India in future, says MP Sribharat

New Indian Express  

VISAKHAPATNAM: “We are accomplishing what seemed impossible,” said MP M Sribharat, while expressing his gratitude to the Centre for announcing Rs 11,400 crore special package for the revival of Visakhapatnam Steel Plant. “The package, which includes new equity infusion, working capital support, and permission to issue preference shares, will inject a new energy into the steel plant’s operations. The package …

Revival package not a permanent solution for the ailing Visakhapatnam Steel Plant, says CPI (M)
Trending News
2 months, 1 week ago

Revival package not a permanent solution for the ailing Visakhapatnam Steel Plant, says CPI (M)

The Hindu  

The Centre’s recently announced special revival package for the RINL-Visakhapatnam Steel Plant may provide temporary relief to the plant’s miserable condition, but it is not a permanent solution, CPI Visakhapatnam district secretary M. Jaggu Naidu said on Saturday. Speaking to reporters at the party office here, Mr. Naidu said that the CPI party is grateful to the Centre for announcing …

Visakhapatnam MP praises Centre for ₹11,440 crore steel plant revival package
Trending News
2 months, 1 week ago

Visakhapatnam MP praises Centre for ₹11,440 crore steel plant revival package

The Hindu  

Thanking the Central Government for the ₹11,440 crore special package for the revival of Visakhapatnam Steel Plant, Visakhapatnam MP M. Sribharat emphasised that the time has come to demonstrate the potential of VSP to the nation. Addressing a press conference at the party office here on Saturday, Mr. Sribharat said that the package includes new equity infusion, working capital support, …

Centre announces Rs 11,440 crore package for Visakhapatnam Steel Plant's revival
2 months, 1 week ago

Centre announces Rs 11,440 crore package for Visakhapatnam Steel Plant's revival

New Indian Express  

VIJAYAWADA: The Central government has announced a financial package of Rs 11,440 crore for the revival of the Visakhapatnam Steel Plant. Visakhapatnam Steel Plant is a Schedule-A Central Public Sector Enterprise under the Ministry of Steel, with a current installed capacity of 7.3 million tonnes per annum. Describing it as the largest package ever for RINL, Vaishnaw highlighted the strategic …

VSP employees rally for merger with SAIL, demand regular salary payments
2 months, 3 weeks ago

VSP employees rally for merger with SAIL, demand regular salary payments

Deccan Chronicle  

Hyderabad: Hundreds of Visakhapatnam Steel Plant employees took to the streets on Monday, demanding the merger of the beleaguered steelmaker with Steel Authority of India Limited. The employees raised slogans emphasising the urgent need for the merger, citing it as the only viable solution to revive VSP's fortunes and secure their livelihoods. The rally underscored the growing discontent among VSP …

Centre hatching conspiracy for VSP's failure: Sharmila
3 months ago

Centre hatching conspiracy for VSP's failure: Sharmila

Deccan Chronicle  

Vijayawada: APCC Chief YS Sharmila Reddy alleged that the Centre was hatching a conspiracy for the failure of Visakha Steel Company. The Centre has extended Rs 15,000 crore aid to the Karnataka Steel Plant to save it, as Union Steel HD Kumaraswamy belongs to that state, she pointed out. The Centre could not spend funds for the revival of Visakha …

BSP stands strong with Visakhapatnam Steel Plant in its fight against privatisation, says MP Ramji Gautam
3 months, 3 weeks ago

BSP stands strong with Visakhapatnam Steel Plant in its fight against privatisation, says MP Ramji Gautam

The Hindu  

The Bahujan Samaj Party on Sunday expressed its solidarity with Visakhapatnam Steel Plant and its employees in the fight against privatisation, said BSP national co-ordinator and MP Ramji Gautam, while promising to spread awareness on the issue and raise the workers’ concerns in the Parliament. The BSP stands with you.” “The Bhartiya Janata Party, is disregarding the Constitution, promoting divisive …

Centre not making sincere efforts to revive Vizag steel plant, says CPI(M)
7 months, 3 weeks ago

Centre not making sincere efforts to revive Vizag steel plant, says CPI(M)

The Hindu  

The Communist Party of India- Marxist has made a renewed appeal to the Union government for allocation of captive mines to the Visakhapatnam Steel Plant. In a statement on Wednesday, CPI State secretary V. Srinivasa Rao said that the Bharatiya Janata Party -led National Democratic Alliance government at the Centre was not making any sincere efforts to keep its promise …

VSP workers seek merger with SAIL
8 months, 1 week ago

VSP workers seek merger with SAIL

Deccan Chronicle  

Visakhapatnam: The families of steel plant employees took out a “merger march” from Candle Junction to SEA Bhavan, seeking the re-merger of SAIL and RINL, as also an urgent bailout package to facilitate full operational capacity for RINL. During the Ukku Vileena Deeksha at SEA Bhavan, from 8am to 8pm, representatives from various employee outfits, including the Steel Officers' Association …

Revoke decision on strategic sale of Visakhapatnam Steel Plant and allot captive mines, JAC urges Union government
8 months, 3 weeks ago

Revoke decision on strategic sale of Visakhapatnam Steel Plant and allot captive mines, JAC urges Union government

The Hindu  

The Trade Unions and People’s Organisations JAC of Visakhapatnam district has demanded that the Centre issue a statement revoking its decision on strategic sale of Visakhapatnam Steel Plant. The JAC leaders held a meeting at the CITU office here on Friday, and held discussions on what they called ‘deceitful measures being implemented by the BJP-led NDA government at the Centre …

Andhra BJP delegation meets Industries Minister for Vizag steel plant revival
9 months ago

Andhra BJP delegation meets Industries Minister for Vizag steel plant revival

New Indian Express  

VIJAYAWADA : A BJP delegation, led by State party chief D Purandeswari, submitted a representation to Union Minister for Heavy Industries and Steel HD Kumaraswamy in New Delhi on Wednesday, seeking steps for revival of Visakhapatnam Steel Plant and its strategic takeover by SAIL. The Union Minister informed the BJP delegation that he had already discussed the issue with officials. …

RINL seeks modification of Andhra HC order on VSP asset disposal
9 months ago

RINL seeks modification of Andhra HC order on VSP asset disposal

New Indian Express  

VIJAYAWADA: Rashtriya Ispat Nigam Ltd, management of Visakhapatnam Steel Plant, filed a supplementary petition in the Andhra Pradesh High Court on Tuesday seeking modification of the interim stay order to continue the status quo on VSP lands and other assets. He further submitted to the court that RINL purchased lands for the steel plant from APIIC and the housing board, …

TDP's Kinjarapu Ram Mohan gets Aviation, MoS Steel for Varma
9 months, 2 weeks ago

TDP's Kinjarapu Ram Mohan gets Aviation, MoS Steel for Varma

New Indian Express  

VIJAYAWADA: A day after three MPs from Andhra Pradesh were inducted into Prime Minister Narendra Modi’s Cabinet, as expected, three-time Srikakulam MP Kinjarapu Ram Mohan was allotted the Union Civil Aviation portfolio, while first-time Guntur MP Dr Pemmasani Chandra Sekhar was appointed as Minister of State for Rural Development and Communication. The decision to allocate the portfolios of MoS Heavy …

Candidates at loggerheads over parties’ stand on Visakhapatnam Steel Plant
10 months, 3 weeks ago

Candidates at loggerheads over parties’ stand on Visakhapatnam Steel Plant

The Hindu  

Gajuwaka Assembly constituency candidates Gudivada Amarnath and Palla Srinivasa Rao are at loggerheads over BJP’s stand on Visakhapatnam Steel Plant privatisation. Addressing an election campaign meeting here on his Assembly segment manifesto with the cadre and also representatives from the steel plant, Mr. Amarnath said, “I am ready to withdraw from the contest and also pave the way for the …

It’s time TDP and BJP made their stand clear on privatisation of Vizag steel plant, says Jagan
11 months ago

It’s time TDP and BJP made their stand clear on privatisation of Vizag steel plant, says Jagan

The Hindu  

Reiterating that the YSR Congress Party has always opposed the privatisation of the Visakhapatnam Steel Plant, Andhra Pradesh Chief Minister Y.S. Narasinga Rao submitted a representation to Mr. Jagan Mohan Reddy on the plight of the steel plant and the prompt action need to be taken by the Union and the State governments. Addressing the VUPPC team, Mr. Jagan Mohan …

Central, State governments trying to kill VSP, alleges CPI-M leader
1 year ago

Central, State governments trying to kill VSP, alleges CPI-M leader

The Hindu  

CPI Anakapalli district committee secretary K. Lokanadham has alleged that the Central and State governments are trying to kill Visakhapatnam Steel Plant. In a statement issued here on Thursday, Mr. Lokanadham said that the Centre had not allotted captive mines, did not give ₹5,000 crore working capital and was not filling up the vacant posts in the plant. While 250 …

VSP Agitators Ask PM Clarify Stand on Steel Plant Before Elections
1 year ago

VSP Agitators Ask PM Clarify Stand on Steel Plant Before Elections

Deccan Chronicle  

Visakhapatnam: Over a thousand Visakhapatnam Steel Plant employees led by trade union leaders cutting across political affiliations took out a huge rally from the Visakhapatnam Steel Plant to Mahatma Gandhi statue near RTC Complex in the heart of the city on Sunday, the 1,116th day of their agitation, covering a distance of 23 kilometres. Former Gajuwaka MLA and Visakhapatnam district …

Pawan Kalyan Slams CM on Privatisation of VSP, Gangavaram Port
1 year, 7 months ago

Pawan Kalyan Slams CM on Privatisation of VSP, Gangavaram Port

Deccan Chronicle  

Visakhapatnam: Jana Sena leader Pawan Kalyan on Sunday slammed the YSRC government for not making serious efforts to save Visakhapatnam Steel Plant from privatisation or getting captive mines for its survival. Addressing a public meeting at the industrial town of Gajuwaka, Pawan Kalyan said the chief minister had 151 MLAs and 30 MPs and yet he was unable to pressurise …

VSP's EOI call for buying its steel, not the plant: BJP
1 year, 11 months ago

VSP's EOI call for buying its steel, not the plant: BJP

Deccan Chronicle  

HYDERABAD: The BJP on Tuesday dismissed the Telangana state government’s move to “acquire” the Visakhapatnam Steel Plant and “prevent its privatisation” calling the announcement, and the ongoing visit to the VSP by a team of officials from Singareni Collieries Company Limited a blatant lie. The BJP declared that the VSP was never for sale and all that the Rashtriya Ispat …

BRS to fight against VSP's privatisation, says its AP chief
1 year, 11 months ago

BRS to fight against VSP's privatisation, says its AP chief

Deccan Chronicle  

Visakhapatnam: AP BRS chief Dr. Thota Chandrasekhar said his party will fight against the privatisation of Visakhapatnam Steel Plant. The AP BRS chief said the Modi government is planning to handover the shore-based steel plant to his friends Adani and Jindal on a platter. He charged that Rashtriya Ispat Nigam Limited, the holding company of Visakhapatnam Steel Plant, has been …

CPI (Maoist) supports stir against VSP privatisation
4 years, 1 month ago

CPI (Maoist) supports stir against VSP privatisation

The Hindu  

The banned CPI has extended its support to the people and workers agitating against the proposed strategic sale of the Visakhapatnam Steel Plant. In a letter released by Kailasam, spokesman of the CPI Andhra Odisha Border Special Zonal Committee, the party stated that VSP had been achieved after people made huge sacrifices. “The YSRCP government is trying to misguide the …

Congress calls for a united struggle to prevent sale of Vizag steel plant
4 years, 1 month ago

Congress calls for a united struggle to prevent sale of Vizag steel plant

The Hindu  

APCC president S. Sailajanath on Wednesday exhorted people to wage a united struggle to stop the Centre’s strategic sale of the Visakhapatnam Steel Plant, which he said was the pride of Andhra Pradesh. Addressing an all-party meeting chaired by APCC vice-president Sripathi Prakasm, he said it was time for all the parties to shed their political differences and come together …

Protests mount against disinvestment of Visakhapatnam Steel Plant
4 years, 1 month ago

Protests mount against disinvestment of Visakhapatnam Steel Plant

The Hindu  

With the Narendra Modi government determined to hurtle through with its intentions to disinvest in most of the 439 Central public sector undertakings, there appears, notwithstanding the apprehensions and protests in Andhra Pradesh, to be very little chance of the Navratna company, Rashtriya Ispat Nigam Limited-Visakhapatnam Steel Plant, escaping the disinvestment/privatisation bullet. The government has no right to sell it.” …

TSR urges Centre to allot captive mines to VSP
5 years, 3 months ago

TSR urges Centre to allot captive mines to VSP

The Hindu  

Rajya Sabha member and former Union Minister for Mines T. Subbarami Reddy on Wednesday urged the BJP-led NDA government to allot captive mines to Visakhapatnam Steel Plant. But unfortunately, captive iron ore mines have not been allotted to the plant as on today, forcing it to buy the raw material at a higher price from the NMDC,” he pointed out. …

Union Steel Minister rejects plea to postpone RINL IPO
12 years, 5 months ago

Union Steel Minister rejects plea to postpone RINL IPO

The Hindu  

Union Steel Minister Beni Prasad Verma on Monday rejected the plea by a team of trade union leaders from the city to put off disinvestment of Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant. Venkataramaiah, the union leaders met Mr. Verma in New Delhi and strongly pleaded to stop the disinvestment process as it would go against …

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