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CM promises to allot Bayyaram iron ore to VSP

HYDERABAD: Chief minister N Kiran Kumar Reddy on Friday responded positively to demand for allotment of captive iron-ore mine to Visakha Steel Plant (VSP) and said govt would fulfil its promis

Published: 03rd March 2012 02:18 AM  |   Last Updated: 16th May 2012 06:27 PM   |  A+A-

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( PTI File Photo)

HYDERABAD: Chief minister N Kiran Kumar Reddy on Friday responded positively to demand for allotment of captive iron-ore mine to Visakha Steel Plant (VSP) and said govt would fulfil its promise. The chief minister said govt was working on providing a Bayyaram mine after overcoming hurdles.

A delegation of INTUC-affiliated Visakha Steel Employees Congress  comprising its general secretary Mantri Rajasekhar and investments and infrastructure minister Ganta Srinivas Rao, Gajuwaka MLA Ch Venkata Ramaiah and T Guru Murthy Reddy met CM in his chamber in Assembly and submitted a memorandum.

"VSP is  the only public sector unit without captive iron ore mines. As the ore needed for manufacture of steel is being purchased in the open market, the cost of steel production is more by Rs 5,000 a tonne vis-a-vis Tata, JSW, JSPL, Essar, SAIL. The VSP is one of the largest contributors to the govt exchequer. Its 6.3 MTPA expansion units will be commissioned soon. VSP is the only shore-based steel plant having the largest land bank of 25,000 acres, enabling it to expand  up to 100 MTPA without need for immediate land acquisition which is now the biggest problem. We, the steel  family, assure you that the plant will be expanded to 100 million tonne capacity and more, and bring AP on international steel map," the VSP Employees Congress said in its two-page memorandum. “The plant's management is committed to investing over Rs 45,000 crore  and paid Rs 22,000 cr to the govt as taxes, duties and dividends.  Earlier, intelligence officials met Kiran Kumar Reddy in Assembly and submitted a report on the ruling party’s prospects in Telangana.



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