Jagan seeks appointment with PM Modi over reviving of steel plant
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CM to bring along an all-party delegation including representatives of trade unions
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CM to bring along an all-party delegation including representatives of trade unions Chief Minister Y. S. Jagan Mohan Reddy has dashed off a letter to Prime Minister Narendra Modi to give an appointment to explain all the options to revive and put Rashtriya Ispat Nigam Limited (RINL), Visakhapatnam back on track.
Mr. Reddy said that he would bring an all-party delegation including the representatives of trade unions to represent directly the concerns being expressed by the people of Andhra Pradesh, employees and various stakeholders.
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State-owned RINL (Rashtriya Ispat Nigam Limited), which has a net debt of Rs 19,592 crore in financial year 2018-19, is looking at raising Rs 1,000 crore from the sale of its 22.19-acre land. This land is located in the heart of Visakhapatnam city, in Andhra Pradesh.
RINL is also called Visakhapatnam Steel Plant or Vizag Steel.
On Thursday, NBCC had announced signing an MoU with RINL for redevelopment and monetisation of its 22.19 acres of land in Visakhapatnam. The company expects to get around Rs 1,000 crore as the market price of land is around Rs 1 lakh per square yard. The amount raised would be utilised to pay back portion of debt of the company, a source in the company told PTI. However, the value of the project would be ascertained after the preparation and finalisation of a Detailed Project Report (DPR). NBCC would conduct the DPR and submit it to RINL.
Jagan seeks appointment with Modi to discuss steel plant revival thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Andhra Pradesh CM writes to PM Modi, suggests options to revive Vizag steel plant ANI | Updated: Mar 09, 2021 23:41 IST
Amaravati (Andhra Pradesh) [India], March 9 (ANI): Andhra Pradesh Chief Minister YS Jagan Mohan Reddy wrote to Prime Minister Narendra Modi and sought an appointment to suggest options to revive Rashtriya Ispat Nigam Ltd (RINL), Visakhapatnam.
The Chief Minister said he ll bring an all-party delegation, including representatives of Trade Unions to represent their concerns.
The letter read, Visakhapatnam Steel Plant (RINL) - Reply of Nirmala Sitharaman, Union Minister for Finance, in parliament on 8-3-2021 regarding 100 per cent strategic disinvestment by way of privatization - Request for Appointment at an early date for personally explaining the options to revive and meeting an all-party delegation led by me to express the concerns directly.