[Marxistindia] Stop privatisation of Vizag Steel Plant

[news from the cpi(m)]

February 9, 2021
 
Press Statement
 
The Polit Bureau of the Communist Party of India (Marxist) has issued the
following statement:
 
Stop Privatisation of Vizag Steel Plant
 
The Polit Bureau of the Communist Party of India (Marxist) expresses it
strong opposition to the decision taken by the central government to
privatise the Visakhapatnam Steel Plant (VSP) by 100 per cent strategic
disinvestment of its corporate entity, the Rashtriya Ispat Nigam Ltd.
 
The Visakhapatnam Steel Plant was set up after a prolonged struggle by the
people of Andhra Pradesh in which 32 people laid down their lives. It
employs around 20,000 people and has created other indirect employment
opportunities in the city of Visakhapatnam. 
 
The VSP is a navaratna company and is India's first shore based integrated
steel plant. A profitable venture till 2015, the company has suffered due to
discriminatory policies such as absence of captive mines.
 
The people of Andhra Pradesh are totally opposed to the privatisation of the
Visakhapatnam Steel Plant. The CPI(M) demands that the government rescind
the decision to privatise the steel plant and ensure that steps are taken
for turning around the enterprise so that it realises its full potential.
 
 
 
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