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CITU president protests against privatization of RINL Vizag Steel Plant- The 19th China (Guangzhou ) Int¡¯l tube & pipe Processing Equipment Exhibition
12/14/2017 steel tube expo-tube &pipe expo |
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Telangana Today reported that CITU State president Ch Narasinga Rao has alleged that the Central government was plotting to privatise the world-renowned Visakhapatnam steel plant. Talking to reporters here he said that failure to provide captive mines to the steel plant was part of this. He said that ¡°All steel plants in the public and private sector in the country have their own captive mines where as our Vizag plant is forced to spend 50% of its earnings for purchase of iron ore. While all other steel plants spend only INR 500 per tonne on iron ore, our plant is spending as much as INR 4,000 for the same.¡±
He also said alleged that the Centre was pushing Vizag steel plant into the red on lines of Air India to ultimately privatise it. Already, VSP has incurred INR 3,000 crore losses. It had so far paid INR 34,629 crore towards taxes to the Centre and the State and also in the form of dividend, he said.
Mr Narasinga Rao noted that lack of efforts on the part of the State government to ensure captive mines for the plant also pointed toward privatisation. ¡°He said that We condemn the move to privatise steel plant and demand that adequate funds for explansion of the plant and captive mines be provided, besides 5,000 field assistants, technical staff and officers be recruited to run the plant successfully.¡±
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