No Privatisation Of Steel Plant, Says Minister

[Anta Assamey]

Union Minister of State for Steel, Faggan Singh Kulaste, stated on Thursday that as of now, there are no plans to privatize the Visakhapatnam Steel Plant.

During his visit to the port city, the Minister informed the media that the current objective of the Central government is to strengthen the plant to its maximum capacity.

He further added that the government is working towards increasing the supply of raw materials for the plant and making it fully operational.

The Minister's statement came shortly after the Telangana State government bid for the steel plant through the Singareni Collieries Limited.

The Government had called for expressions of interest in financially strengthening the steel plant, with six private companies already submitting their bids, while Singareni is yet to enter.

The Minister clarified that Telangana's claims to bid for the steel plant were mere political drama, and at this stage, the central government has no plans to privatize the steel plant.

Meanwhile, Telangana Minister K Taraka Ramarao stated that the Central government's decision was a response to Telangana's intervention.

He referred to the Central government's decision as an advantage for the Telangana government and the Bharat Rastra Samithi leadership.

The news from the Union Minister was well received by the political parties and employee unions of the steel plant.

[Anta Assamey]

Thank You KCR