VISAKHAPATNAM: S Viswanatha Raju, an independent director of SAIL (Steel Authority of India Limited), has emphasised that the merger of RINL (Rashtriya Ispat Nigam Limited - Visakhapatnam Steel Plant) with SAIL is the only solution to the VSP issue.
On Monday, Viswanatha Raju mentioned that he was invited as a member of SAIL to the review meeting on VSP held by Human Resource Development Minister Nara Lokesh. State MPs and MLAs also attended the meeting. He highlighted that the merger of RINL will SAIL will help reduce the production cost of steel by Rs 10,000 per tonne. An extra expense of Rs 1,200 crore per annum needs to be incurred for coal procurement. Representatives of Andhra Pradesh have unanimously decided to advocate the merger of VSP with SAIL, he said.
The SAIL independent director lauded the efforts of VSP Protection Committee to ensure that its stir against privatisation of the steel plant does not disrupt VSP production. He felt that SAIL’s policies need minor adjustments. A crucial meeting regarding the steel plant is scheduled for Tuesday in New Delhi, where significant decisions are expected to be taken, he said.
Furthermore, he lauded the diligent work of the TDP MPs and Lokesh to protect the steel plant from privatisation.