VISAKHAPATNAM: Visakhapatnam MP MVV Satyanarayana raised the issue of privatisation of the RINL steel plant, in the Lok Sabha during zero hour on Tuesday.
Speaking in the houses, the MP appealed to the Centre to withdraw its decision to privatise the steel plant, which is “the pride of the State”.
He said the Andhra Pradesh government, led by Chief Minister YS Jagan Mohan Reddy, adopted a resolution in the State Assembly requesting the Centre to drop the proposed privatisation of the Vizag Steel Plant. However, the Union government is yet to take a decision on it.
He said VSP is the only steel plant with a four-star rating in exports. “The plant has made huge investments in Orissa Minerals Development Company (OMDC). But till today not even a single tonne of raw material reached the steel plant. A captive iron ore mine should be given to the steel plant.”
The MP added it is pathetic that though the steel plant is a Navratna company permission was given to get funds from public or private banks.