Centre defends privatisation of Visakhapatnam Steel Plant

Guntur: Defending privatisation of Visaka Steel Plant, Union Minister of state for Finance and Corporate affairs Anurag Singh Thakur said that the privatisation of RINL will lead to infusion of capital for optimum utilisation and expansion of capacity, infusion of technology and better management practices.

Replying to a representation given by MP Galla Jayadev, he said this will result in higher production and productivity and expansion of direct and indirect employment opportunities. He assured that while deciding terms and conditions of sale, legitimate concerns of existing employees and other stake holders are suitably addressed through provisions made in share purchase agreement.