VIJAYAWADA: TDP supremo and Leader of the Opposition N Chandrababu Naidu wrote a letter to Prime Minister Narendra Modi on Saturday and appealed to him to stop the privatisation process of Rashtriya Ispat Nigam Limited (RINL), a Navratna PSE and the corporate entity of Visakhapatnam Steel Plant (VSP).
It is necessary to look for alternative options that could turn the fortunes of the RINL Steel Plant for the better, creating a win-win situation for all the stakeholders, he said.
Naidu described the steel plant as the pride of not only Visakhapatnam and Andhra Pradesh but also the country.
Stating that VSP is the crown of Andhra Pradesh and one of the largest steel manufacturers, he observed that the Vizag Steel Plant is facing losses due to absence of captive mines and high interest rates on loans.
“In this backdrop, if the Government of India or the Government of Andhra Pradesh provides captive mines to the RINL, it will provide the opportunity and the potential to turn the fortunes of the steel plant. At current market price, the land that the steel plant is located alone costs about Rs 1.5 lakh to 2 lakh crore. The steel plant is the lifeline of North Andhra, and provides livelihood to lakhs of people, directly and indirectly,’’ he mentioned in the letter.
Expressing concern over the budget proposal to privatise VSP following the approval of the Cabinet Committee on Economic Affairs, the TDP chief recalled that the VSP was achieved through a long drawn struggle by the Telugu people who, in the 1960s, rose above region, religion and caste to unite for the cause under the slogan ‘Visakha Ukku-Andhrula Hakku’’.
“The then Prime Minister had announced the decision to build Visakhapatnam Steel Plant in 1970. This is the only steel plant in India located on seashore, which makes it unique in many ways. It was the demand raised by a people’s movement in the erstwhile Andhra Pradesh that led to establishment of the steel plant in Visakhapatnam. The movement was led by several stalwarts such as Tenneti Viswanadham, Sardar GouthuLatchanna, Puchalapalli Sundarayya, Chandra Rajeswara Rao, Vavilala Gopalakrishnaiah and others. The pioneer of the movement was Amruta Rao, hailing from Dalit community, from Guntur, who observed an indefinite fast, inspiring Telugu people across the state to unite for the cause,’’ the leader of the Opposition recalled in the letter.