CM YS Jagan urges Centre to reconsider move to privatise VSP

Amaravati: Chief Minister Y S Jagan Mohan Reddy, coming under pressure from all quarters over the privatisation plans of RINL, Visakhapatnam, urged the Centre to reconsider the same here on Saturday.

He assured the Prime Minister that "Andhra Pradesh government will closely work with the Government of India to revive the plant for unlocking greater value to the society and in particular to the people of Andhra Pradesh".

He further said that the recent decision of the Cabinet Committee on Economic Affairs (CCEA) which has given in-principle approval for 100 per cent strategic disinvestment of Government of India's shareholding in Rashtriya Ispat Nigam Ltd., Visakhapatnam, along with management control by way of privatisation and the news items being published in the media about the Union Cabinet's clearance of the same had become a point of discussion among the public in Andhra Pradesh and a cause of concern to us, he said.

"As you are aware, Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP), is a Navratna Company under the Ministry of Steel.

It is the largest public sector industrial unit in the state creating employment opportunities for close to around 20,000 people directly and many other indirect employment opportunities in the city of Vishakhapatnam.

It is India's first shore-based integrated steel plant and a producer of long steel products catering to the requirements of the construction, infrastructure, manufacturing & automobile sectors," the letter noted. He said captive mine in Odisha will go a long way in reviving the plant.

He recalled the sacrifices of Andhrites for the plant to defend his view. He sought support of the Centre for the same.