VIJAYAWADA: After years of financial strain, Visakhapatnam Steel Plant (VSP) has returned to profitability with strong support from both the Centre and the State government.
Rashtriya Ispat Nigam Limited (RINL) has recorded a profit of Rs 54 crore in January 2026, marking a remarkable turnaround in just 18 months.
Chief Minister N Chandrababu Naidu reviewed the steel plant’s progress at the Secretariat on Tuesday, in the presence of Union Steel Ministry Secretary Sandeep Poundrik, Vizag Steel Plant CMD Manish Raj Gupta, Chief Secretary K Vijayanand, and senior State officials.
During the review, officials reported that the plant’s capacity utilisation has surged to a record 94%, up from 45%. Daily hot metal production has doubled from 9,215 tonnes in Q2 of 2024-25 to 19,401 tonnes, with all three blast furnaces operating at full strength.
CMD Manish Raj Gupta credited the revival to continuous government support, including Rs 11,440 crore in assistance from the Centre, and relief measures from the State government in areas such as taxes, electricity dues, and water supply. He noted that RINL’s credit rating has also improved significantly.
Responding to the briefing, Naidu urged officials to introduce new policies across departments to further strengthen the plant.
He emphasised that the achievement was possible only through the combined efforts of workers, employees, management, and the cooperation of both governments.