VIJAYAWADA: TDP State president Palla Srinivasa Rao has alleged that the YSRCP and Left parties have distorted and circulated baseless interpretations of Chief Minister N. Chandrababu Naidu’s remarks on the Visakhapatnam Steel Plant made at the CII Summit.
“Their attempt to foment public confusion, undermine investor confidence, and stall the revival of the State’s industrial ecosystem is not only unfortunate but also symptomatic of their habitual obstructionism. The facts, however, speak unambiguously: it is Naidu’s leadership that has enabled the Steel Plant to take its most decisive and historic step towards revival in recent years,” Palla Srinivasa Rao said.
Stating that the decision of the Union Ministry of Heavy Industries—converting Rs 2,400 crore in pending power dues into equity—has provided the ailing plant with immediate financial respite, the TDP leader said that with the Centre and the State working in tandem, Rs 9,500 crore out of the Rs 14,000-crore revival package has already been credited to RINL’s accounts, marking a significant infusion of strength into the steel-maker’s rehabilitation efforts.
The recommissioning of the third Blast Furnace has further bolstered production capacity, signalling a tangible turnaround for the plant.
“Yet, even as these measures lay the groundwork for a sustained resurgence, YSRCP leaders and CITU functionaries continue to deliberately circulate falsehoods with the sole intent of misleading the public. Their oft-repeated claim that the plant ‘cannot function without captive mines’ stands on no factual basis. Technical assessments have already made clear that mines with 40% FE content are commercially unviable for production, and that a daily output of 15,000 MT is essential to reach break-even levels. But such realities appear invisible to the YSRCP, for whom political rhetoric seems far more compelling than truth,” Palla Srinivasa Rao noted.
Saying that Naidu’s remarks at the summit, viewed in full context, reflect a pragmatic and forward-looking approach to securing the plant’s future, he said any narrative to the contrary is not merely misleading — it is a disservice to Visakhapatnam’s industrial aspirations and to the thousands of families.