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Center’s key announcement regarding Visakhapatnam Steel Plant

The News GlorybyThe News Glory
09/12/2022

Visakhapatnam Steel Plant: Center has once again made a key announcement on Visakhapatnam Steel Plant. Deepam Secretary Tuhin Kanta Pandey clarified that steps are being taken regarding the sale of the steel plant. Pandey commented that since the central cabinet has given its approval, they are moving forward in this matter. And against the privatization of the steel plant… agitations are continuing in Visakhapatnam. Trade unions oppose privatisation. Concerned for many days.

Visakha Steel Plant

Highlights:

  • Center’s key announcement on Visakha Steel Plant
  • Deepam’s secretary said that there is no question of taking a step back
  • Workers’ agitation continues in Visakhapatnam
Visakhapatnam Steel Plant: It is once again clear that the Center is not backing down on the issue of selling the Visakhapatnam Steel Plant. Deepam Secretary Tuhin Kanta Pandey clarified that regarding the strategic sale of Visakha Steel Plant..steps are being taken forward. Pandey clarified this at the CII Global Economic Asset Management Summit. And against the privatization of the steel plant in Visakhapatnam, the workers are protesting. At this time, Pandey’s announcement became crucial.

The Cabinet Committee on Economic Affairs has given an in-principle approval for the strategic sale of 100 percent of the shares held by the Center in Rashtriya Ispat Nigam Limited in January 2021. Cabinet has given its approval so we are going ahead in this regard. At present, we are working on how to structure the transaction,’ Deepam Secretary Tuhin Kanta Pandey clarified. With this announcement, the anxiety among the workers increased. How the workers will react to this has now become a topic of discussion.

The workers make it clear that they will stop the privatization of the steel plant at any cost. Instead of privatizing the steel plant, the trade unions are demanding that it should be merged with the Steel Authority of India Limited. However, the finance ministry refused. It has made it clear that there will be no question of merging the strategic into the non-strategic. Due to this, the workers went on the path of agitation. Various political parties have also announced their support to the workers.
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