
VISAKHAPATNAM: “We are accomplishing what seemed impossible,” said MP M Sribharat, while expressing his gratitude to the Centre for announcing Rs 11,400 crore special package for the revival of Visakhapatnam Steel Plant.
Speaking to mediapersons at the TDP office in Visakhapatnam on Saturday, he said the time has come to showcase VSP’s potential to the nation. “The package, which includes new equity infusion, working capital support, and permission to issue preference shares, will inject a new energy into the steel plant’s operations. The package will certainly yield significant returns for the country in the future,” he asserted.
The MP revealed that plans are underway to utilise the special package effectively. Two blast furnaces are set to restart soon, and the third is expected to be operational by August. Discussions with NMDC for raw material supply are in progress. Steps are being taken to strengthen ancillary units, and enhance the plant’s material security.
“As the local MP, I take responsibility for initiating reforms in collaboration with the Ministry of Steel to ensure VSP’s revival,” he said.
Mentioning that one of his key election promises is to prevent the privatisation of VSP, he said,
“From the moment I took oath as an MP, I started discussions with the Centre for the revival of VSP. The announcement of the special package by the Centre validates the trust placed in me by the people,” he said.