CPI to intensify agitation against ‘privatisation’ of VSP Updated: Updated: ‘Allocation of captive mines to the plant will help it make profit again’ Share Article ‘Allocation of captive mines to the plant will help it make profit again’ CPI State assistant secretary J.V. Satyanarayana Murthy has demanded that the Centre immediately drop the move of withdrawing its stake in the Visakhapatnam Steel Plant (VSP) and handing over the plant to the POSCO. Addressing the media here on Thursday, Mr. Murthy recalled that when the VSP was on the verge of being referred to the Board for Industrial and Financial Reconstruction (BIFR) in 1998-99 fiscal year, freedom fighters Patti Seshayya and Bairagi had prepared for taking a ‘Jala Samadhi’. The struggle had not only prevented the VSP of being referred to the BIFR but also saw the plant earning profits in the subsequent years.