Visakhapatnam: Union Minister of Steel HD Kumaraswamy emphasized that there are no plans to privatize the Visakhapatnam Steel Plant (VSP). He expressed his commitment to preparing a proposal for the revival of Rashtriya Ispat Nigam Limited (RINL) and to discuss it with the Prime Minister. Kumaraswamy, during his visit to the plant, inspected various sections including the coke oven department, blast furnace-3, steel melting shop-2, and wire rod mill-2. He also held discussions with RINL Chairman and Managing Director Atul Bhatt to understand the operational processes.
In a meeting with the Steel Executives Association (SEA), concerns were raised about the proposed merger of SAIL and RINL, as well as issues related to promotions, performance-related pay, and wages. The SEA representatives clarified that the losses incurred by the Steel Plant were primarily due to iron ore shortages and interest burdens from previous expansions, not due to employee-related factors. Kumaraswamy assured the SEA of exploring the possibility of re-merging SAIL and RINL and requested time to address their concerns.
Additionally, Chief Minister N Chandrababu Naidu affirmed his commitment to strengthen the VSP, emphasizing its significance as a symbol of self-respect for the Telugu people. He dispelled rumors about privatization and highlighted efforts to secure financial assistance from the Centre for the plant's development.
Kumaraswamy concluded his visit by interacting with VSP staff and various trade union representatives, reassuring them of the government's support. He expressed confidence in the plant's future, pledging that, with the Prime Minister's backing, it would continue to operate at full capacity, contributing positively to the country's GDP and supporting numerous families dependent on its operations.