AP CM Jagan seeks PM Modi’s intervention in Vizag Steel Plant issue
By Mohd Aslam Hussain| Published: 7th February 2021 11:29 pm IST
Hyderabad: Chief Minister of Andhra Pradesh YS Jaganmohan Reddy has made a fervent appeal to Prime Minister Narendra Modi to rethink RINL Visakhapatnam’s disinvestment plans and explore other opportunities to bring the plant back on track, assuring that the government of Andhra Pradesh will work closely with the Government of India under Modi’s leadership in reviving the plant for unlocking greater value to the society and in particular to the people of Andhra Pradesh.
In a letter addressed to the Prime Minister, he referred to the recent decision of the Cabinet Committee on Economic Affairs (CCEA), which approved in principle the 100% strategic disinvestment of the shareholding of the Government of India in RashtriyaIspat Nigam Ltd.,(RINL) Visakhapatnam, along with management control through privatisation and news items reported in the med
Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Saturday wrote to Prime Minister Narendra Modi requesting him to reconsider the disinvestment plans of Rashtriya Ispat Nigam Ltd, Visakhapatnam and explore other opportunities to put the plant back on track.
Andhra CM Jagan Writes To PM Modi To Reconsider Disinvestment Of RINL; Suggests Measures To Revive Plant
Source: The Hans India
Andhra Pradesh Chief Minister YS Jaganmohan Reddy has requested Prime Minister Narendra Modi to reconsider the disinvestment of state-owned Vishakapatnam-based steel company Rashtriya Ispat Nigam Ltd (RINL),
Reddy has asked PM Modi to ponder upon other opportunities to put the plant back on the wagon. The Cabinet Committee on Economic Affairs (CCEA) had recently approved the 100 per cent strategic disinvestment of the governmentâs holdings in the company.
Reddy wrote that RINL is the largest public-sector industrial unit in the southern state and that it employs 20,000 people directly in Vizag. He also pointed towards the companyâs profit-making good performance with a positive net worth from 2002-2015 onward. The CM claimed that the plant had to borrow loans in order to carry out capacity expansion and plant modernization.
Andhra CM writes to PM on RINL s disinvestment plans newzealandstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newzealandstar.com Daily Mail and Mail on Sunday newspapers.