VIJAYAWADA: TDP supremo and Leader of the Opposition N Chandrababu Naidu wrote a letter to Prime Minister Narendra Modi on Saturday and appealed to him to cease the privatisation means of Rashtriya Ispat Nigam Limited (RINL), a Navratna PSE and the company entity of Visakhapatnam Steel Plant (VSP).
It is critical to search for various options that might flip the fortunes of the RINL Steel Plant for the higher, making a win-win state of affairs for all of the stakeholders, he mentioned.
Naidu described the metal plant because the delight of not solely Visakhapatnam and Andhra Pradesh but additionally the nation.
Stating that VSP is the crown of Andhra Pradesh and one of many largest metal producers, he noticed that the Vizag Steel Plant is dealing with losses due to absence of captive mines and excessive rates of interest on loans.
“In this backdrop, if the Government of India or the Government of Andhra Pradesh offers captive mines to the RINL, it should present the chance and the potential to flip the fortunes of the metal plant. At present market value, the land that the metal plant is positioned alone prices about Rs 1.5 lakh to 2 lakh crore. The metal plant is the lifeline of North Andhra, and offers livelihood to lakhs of individuals, straight and not directly,’’ he talked about within the letter.
Expressing concern over the price range proposal to privatise VSP following the approval of the Cabinet Committee on Economic Affairs, the TDP chief recalled that the VSP was achieved by a protracted drawn wrestle by the Telugu individuals who, within the Sixties, rose above area, faith and caste to unite for the trigger underneath the slogan ‘Visakha Ukku-Andhrula Hakku’’.
“The then Prime Minister had introduced the choice to construct Visakhapatnam Steel Plant in 1970. This is the one metal plant in India positioned on seashore, which makes it distinctive in some ways. It was the demand raised by a individuals’s motion within the erstwhile Andhra Pradesh that led to institution of the metal plant in Visakhapatnam. The motion was led by a number of stalwarts corresponding to Tenneti Viswanadham, Sardar GouthuLatchanna, Puchalapalli Sundarayya, Chandra Rajeswara Rao, Vavilala Gopalakrishnaiah and others. The pioneer of the motion was Amruta Rao, hailing from Dalit group, from Guntur, who noticed an indefinite quick, inspiring Telugu individuals throughout the state to unite for the trigger,’’ the chief of the Opposition recalled within the letter.