Here is an exclusive protest video of Amaravati farmers who joins in hands in protesting against Vizag steal plant privatization.
#AmaravatiFarmers #VizagStealPlant
In a letter, the Chief Minister said: "I would like to bring to your kind notice the recent decision of the Cabinet Committee on Economic Affairs (CCEA) which has given in-principle approval for 100% strategic disinvestment of Government of India’s shareholding in Rashtriya Ispat Nigam Ltd., Visakhapatnam, along with management control by way of privatization and the news items being published in the media about the Union Cabinet’s clearance of the same has become a point of discussion among the public in Andhra Pradesh and a cause of concern to us."
"The Steel Plant stands as a testimony to the will of Telugu people and it is continued as an icon of Telugu achievement in our collective psyche till date. The Government of the Andhra Pradesh is ready to work with Ministry of steel to protect the jewel of Andhra Pradesh.
Therefore, I request you to kindly reconsider the disinvestment plans of RINL Visakhapatnam and explore other opportunities to put the plant back on track. I assure you that Andhra Pradesh Government will closely work with the Government of India under your able leadership in making this happen and together we can revive the plant for unlocking greater value to the society and in particular to the people of Andhra Pradesh," Jagan mentioned in the letter.
He further wrote, "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, Govt. of India. It is the largest public sector industrial unit in the state creating employment opportunities for close to around 20000 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."
"This plant is realised only after many sacrifices by our people. The people of my state rallied for the Visakhapatnam Steel Plant in which 32 people have laid down their lives. On 17th April 1970, the then Prime Minister of India, announced the Government's decision to establish a steel plant at Visakhapatnam culminating the decade-long public agitation “Visakha Ukku-Andhrula Hakku” in the undivided Andhra Pradesh."
"I would like to draw your kind attention towards the fact that the plant had a good performance between 2002 to 2015 earning profits with positive Net worth. The plant has pragmatically turned-around in 2002 after being reported to BIFR as a sick company. The company has around 19700 acres of land currently and the valuation of these lands alone could exceed one lakh crore rupees due to the location of the plant in the urban area and rapidly expanding urban sprawl.”
He wrote: “RINL currently has a capacity of 7.3 Million Tonnes and has taken up plant modernisation and capacity expansion recently which made the plant to borrow loans from banks to take up the expansion. Owing to the unfavourable steel cycle globally the company was making losses since 2014-15 and was finding it difficult to service the debt. One of the major structural issue that also leads to high cost of production is the absence of captive mine thereby affecting the profitability."
#VizagStealPlant #TDP #Jagan
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