BJP State general secretary and an independent director in SAIL Sagi Kasi Viswanatha Raju.
BJP State general secretary and an independent director in the Steel Authority of India Limited (SAIL) S. Kasi Viswanatha Raju on Saturday urged the Union government to consider the proposal to merge the Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant (VSP), with the SAIL to ensure continuity of the VSP as a public sector undertaking (PSU).
Mr. Raju, in a press release, hailed the Centre’s special financial package of ₹11, 440 crore for revival of VSP, which had been struggling due to lack of captive mines for continuous supply of raw material.
He said the merger of VSP with SAIL would pave the way for a permanent solution for the problems being faced by the VSP.
“The public representatives and employees of the VSP need not worry about its future as its merger with SAIL will offer a solution to all problems. Raw materials will be supplied to the VSP from the mines controlled by the SAIL. The marketing efficiency of SAIL will be an added advantage for the VSP,” he added.
Mr. Raju said the issue had been brought to the notice of Prime Minister Narendra Modi and Union Minister of Steel H.D. Kumaraswamy. He also urged the State government to pursue the proposal.
Currently, the Union government;s policy was that one public sector unit should not take over another. “If the Centre relaxes this norm, merger of SAIL with VSP will be easy. Authorities in SAIL are also interested in the takeover, as the company is keen on expanding its capacity up to 50 million tonnes per annum from the existing 20 million tonnes per annum,” he said.
Published – January 18, 2025 07:23 pm IST