AP CPI General Secretary Rama Krishna about AP CM YS Jagan, BJP, Janasena, Chandrababu, Pawan Kalyan, YS Sharmila, and PM Narendra Modi regarding Visakha Steel Plant privatization.
#CPIRamaKrishna #VizagSteelPlantPrivatization #JaganDangerGame
On 17 April 1970, the Prime Minister of India, Indira Gandhi, announced the government's decision to establish a steel plant at Visakhapatnam. With the offer of assistance from the government of the erstwhile USSR, a revised project evolved some years later. A detailed project report for a plant with a capacity of 3.4 Mtpa was prepared in November 1980 and in February 1981, a contract was signed with the USSR for the preparation of working drawings of coke ovens, blast furnace, and sinter plant. The blast furnace foundation was laid, with the first mass concreting, in January 1982. The construction of the local township was also started at the same time.
In the 1970s, Kurupam Zamindars donated 6,000 acres of land for the Vizag Steel Plant. A new company Rashtriya Ispat Nigam Limited (RINL) was formed on 18 February 1982. Visakhapatnam Steel Plant was separated from SAIL and RINL was made the corporate entity of Visakhapatnam Steel Plant in April 1982.
Vizag Steel Plant is the only Indian shore-based steel plant and is situated on 33,000 acres (13,000 ha), and is poised to expand to produce up to 20 MT in a single campus. Turnover in 2011-2012 was Rs 14,457 crores. On 20 May 2009, Prime Minister Manmohan Singh launched the expansion project of Visakhapatnam Steel Plant from a capacity of 3.6 MT to 6.3 MT at a cost of Rs. 8,692 crores. But the investment was revised to 14,489 crores with the following classification.
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