Leaders hail ₹11,440 cr boost for Vizag Steel Plant
Politicians praise ₹11,440 crore package for Visakhapatnam Steel Plant, hailing it as a major win for Andhra Pradesh
Visakhapatnam: Leaders across party lines expressed gratitude to Prime Minister Narendra Modi, Andhra Pradesh Chief Minister N. Chandrababu Naidu, and Union finance minister Nirmala Sitharaman for approving a ₹11,440 crore revival and restructuring package for the Visakhapatnam Steel Plant (Rashtriya Ispat Nigam Limited, RINL). The financial package, which includes ₹10,300 crore in fresh equity infusion and ₹1,140 crore in loan-to-equity conversion, is expected to rejuvenate the plant’s operations and benefit its employees and the local economy.
Union minister of railways Ashwini Vaishnaw expressed gratitude to the Prime Minister for approving the package and highlighted RINL's critical role in the steel industry. He emphasised that the funds would enable the plant to resume efficient operations, benefiting employees and boosting the economy of Andhra Pradesh.
Minister of state for steel and heavy Industries Bhupatiraju Srinivas Varma shared that extensive discussions, including late-night meetings with Finance Minister Nirmala Sitharaman and Union Steel Minister Kumara Swamy, were instrumental in finalising the package.
Union minister of railways Ashwini Vaishnaw expressed gratitude to the Prime Minister for approving the package and highlighted RINL's critical role in the steel industry. He emphasised that the funds would enable the plant to resume efficient operations, benefiting employees and boosting the economy of Andhra Pradesh.
Minister of state for steel and heavy Industries Bhupatiraju Srinivas Varma shared that extensive discussions, including late-night meetings with Finance Minister Nirmala Sitharaman and Union Steel Minister Kumara Swamy, were instrumental in finalising the package.
Civil Aviation Minister K. Rammohan Naidu credited Chief Minister N. Chandrababu Naidu for prioritising the steel plant during his meetings with Prime Minister Modi. He noted that Chandrababu Naidu consistently included the plant’s revival on his agenda, reflecting his commitment to the issue. Rammohan Naidu also acknowledged Union steel minister Kumara Swamy for showing concern by visiting the steel plant and engaging with its officials and workers. He stated, “This package is a testament to our collective efforts and determination to secure the future of RINL.”
State home minister Vangalapudi Anitha welcomed the package, reiterating the slogan "Visakha Ukku – Andhrula Hakku" and commending the government’s response to public sentiment.
Telugu Desam leaders celebrated the decision, with Bhimili MLA Ganta Srinivasa Rao recalling his resignation in 2021 to protest against the proposed privatisation of the plant. He described the package as a win for Andhra Pradesh’s self-respect. Anakapalle MP C.M. Ramesh thanked the central government for addressing RINL's financial struggles.
TD MLAs and corporators, including Villuri Bhaskara Rao and Urukuti Narayana Rao, marked the occasion with celebrations at the party office, crediting Chief MInister N. Chandrababu Naidu’s efforts for ensuring the survival of this vital economic and symbolic asset of Andhra Pradesh.
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