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Interesting developments are taking place in the case of privatization of steel plant. The workers are expressing concern over the developments taking place in the plant for a few days.
Chief Minister Chandrababu has also promised to stop privatization. At the same time, the center took a key decision regarding the steel plant.
Another Rs 2,500 crore
Union Ministry of Steel has announced that another Rs.2,500 crore will be given to the Visakhapatnam Steel Plant. It has already sanctioned Rs.500 crores. It stipulated that the funds released should be used only for legitimate payments. State Bank of India (SBI) has been entrusted with the responsibility of using the funds. SBI also indicated that it should play a key role in the recently announced use of Rs.2,500 crore. It has assured that these funds will be available by 23rd of this month.
Production in furnaces
While there are three blast furnaces in the steel plant, two of them have been shut down due to shortage of raw materials and currently only one is producing. Now that the funds are available, the Ministry of Steel has ordered the two blast furnaces to run at full capacity. It has promised to supply the necessary raw materials.
It has been asked to complete the maintenance work in all departments by the end of October and full production from November. As it has been decided to run two of the three blast furnaces in the steel plant, it has decided to send the excess employees on deputation to other central government institutions.
A plan has been prepared to reduce the burden of salaries to that extent. As a part of this, the executive level officials have once again been called upon to come forward for those who are interested in going on deputation to the Nagarnar plant of NMDC. Arguments are going on over this.
