CM Jagan Mohan Reddy Press Meet On Vizag Steel Privataization | Fires On Bjp Party |Vizag| Andhra TV
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Visakhapatnam Steel Plant (VSP) has a long saga of struggle and sacrifices. It was a people’s movement in then combined Andhra Pradesh, in which students from Andhra Medical College, Andhra University, Ms. AVN College and many other colleges from Guntur, Krishna, Warangal and East Godavari districts, had participated. They were led by stalwarts such as Tenneti Viswanadham, Gouthu Latchanna, Puchalapalli Sundarayya, Chandra Rajeswara Rao, Nallamalla Giriprasad Rao, T. Nagi Reddy and Vavilala Gopalakrishnaiah.
The movement for a shore-based steel plant in Visakhapatnam began with C. Subramaniam announcing that a steel plant would be set up in the city in 1963. In 1965, the Centre asked the Anglo American Consortium to indetify a suitable location . A report was tabled in Parliament on July 3, 1965, citing Visakhapatnam as a feasible location. On July 1, 1966, the State Assembly, then led by Chief Minister Kasu Brahmananda Reddy, unanimously passed a resolution favouring the plant in Visakhapatnam.
But, the project went into a limbo thereafter. It again gained momentum, when Amruta Rao from Guntur, sat on an indefinite fast at the District Collector’s office, on October 15, 1966. “For about three days, nobody noticed Mr. Amruta Rao. There was a small report about his fast in a local Telugu newspaper. We learnt from him the relevance of the plant ,” recalls Kolla Rajmohan, who was then the general secretary of students union of Andhra Medical College.
After much ups and downs and acquiring about 22,000 acres of land in 68 villages, the first blast furnace Godavari was dedicated to the nation by the then Prime Minister V.P. Singh, on March 20, 1990. On August 1, 1992, Visakhapatnam Steel Plant, with 3 million tonne capacity, was dedicated to the Nation by the then Prime Minister P.V. Narasimha Rao. In 2006, then Prime Minister Manmohan Singh laid the foundation stone for its expansion project from 3.2 MT to 6.3 MT.
All the three Prime Ministers, in their speechs, had described the VSP as pride of the State, the city and the country.
The VSP had gone into production in 1991 and till 2000, it accumulated losses to the tune of about ₹4,000 crore. In 2,000, it was referred to the Board of Industrial and Financial Reconstruction (BIFR), but after much pressure, it was given a restructuring package of ₹1,333 crore.
Members of Steel Executive Association (SEA) says that the original estimate was ₹1,900 crore, but by the time it had gone into production and due to delay in construction of about 25 years, the cost had gone over ₹8,000 crore.
The government had given only ₹4,986 crore and the balance was raised by the VSP from the market. Between 2001 to 2016, the palnt earned profits and went into losses again from 2016, due to a number of factors.
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