Centre’s ploy to deliver Vizag Steel Plant to corporate friends: KTR

The minister said, “Telugu people have the right to Vizag steel and safeguarding it is our responsibility”. 

Hyderabad: Telangana minister for Industries KT Rama Rao on Sunday alleged that the Vizag Steel Plant (VSP) privatisation plan is a ploy to hand the steel plant worth Rs 1,50,000 crore to private companies. 

Terming that Vizag steel is Telugu people’s right, he wrote an open letter to the Centre opposing the privatisation of VSP. He said that the Bharat Rashtra Samithi (BRS) severely condemns the move.

The Industries minister asked the Union government to drop the plans of handing over VSP to ‘corporate friends’. He alleged, “Prime minister Narendra Modi who wrote off his corporate friends’ loans of Rs 12,50,000 crore, does not have generosity towards the VSP”.

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KTR demanded the union government to immediately provide at least Rs 5000 crores to the steel plant according to the required funds.

The minister said, “Telugu people have the right to Vizag steel and safeguarding it is our responsibility”. 

He said that the Expression of Interest issued by the steel plant management and the proposed agreement lacked specific regulations. He alleged that under the pretence of revenue for working capital and raw materials, the BJP government was plotting to deliver VSP to private companies.

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