Thursday, July 18, 2024
    HomeTelanganaVisakhapatnam Steel Plant furnace kept burning through TS bidding efforts

    Visakhapatnam Steel Plant furnace kept burning through TS bidding efforts

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    The Singareni Collieries Company Limited (SCCL) has set a new record in coal transportation. Meanwhile, the Telangana Government’s proposal to participate in the bid for securing Visakhapatnam Steel Plant has caused controversy. The Andhra Pradesh Government has questioned the intention of Telangana Government, with some arguing that any company in which the Central or State governments have a 51% stake cannot participate in the bid unless special permission is granted by the Government of India. However, officials of VSP and unions say that the bid is for equity to repair three blast furnaces that were closed four years ago. The VSP requires Rs 5,000 crore, which includes working capital for four months, to restore the blast furnaces to their full capacity and revive the plant. The SCCL has expressed interest in this aspect only and can participate in the bid as it is not for privatisation. The AP government is reportedly concerned that if TS government participates in this bidding, opposition parties in AP would accuse YSRCP of killing VSP for the sake of the Kadapa steel plant. Experts argue that the Central government wants to go in for 100% disinvestment and dispose of the VSP for Rs 35,000 crore while its original value is estimated to be about Rs 3 lakh crore. They also note that the AP government had earlier acquired 22,000 acres of land displacing 68 villages, but neither relief and rehabilitation packages nor jobs have been provided to the displaced persons.

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    Rajesh M
    Rajesh M
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