The Central government has today announced that it has withdrawn the privatization idea of the Visakha Steel Plant. Union Minister of State for Steel, Faggan Singh Kulaste made some interesting comments in this regard. The minister was in Visakhapatnam today to participate in the Rozgal Mela that was conducted at Kalavani Auditorium.

The Minister made it clear that the central government is not planning to privatize the Visakha steel plant. Instead, they are trying to strengthen Rashtriya Isptat Nigam Limited (RINL), which owns the steel plant. The Minister made it clear that the government is working to increase the production capacity of the plant. “We are planning to open some new divisions in the plant as well,” he said.

The centre criticized Bharat Rashtra Samithi’s bids to acquire the plant. He made it clear that the bids were for strengthening the financial position of the steel plant.

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