Special revival package to change VSP’s destiny says MP M Sribharat

Visakhapatnam : Highlighting that seven months of consistent efforts have eventually paid off, Visakhapatnam MP M Sribharat emphasised that time has come to demonstrate the potential of Visakhapatnam Steel Plant (VSP) to the nation.

Acknowledging that the revival plan allocated for the VSP package was possible due to the efforts of Chief Minister N Chandrababu Naidu, Deputy CM Pawan Kalyan and Nara Lokesh at a media conference held in the presence of MLC and Government Whip Vepada Chiranjeevi Rao, TDP Visakhapatnam district president and Oil Seeds Corporation chairman Gandi Babji, TDP Visakhapatnam south constituency in-charge Seethamraju Sudhakar, and other alliance leaders, the MP expressed gratitude to the CM, Deputy CM and HRD Minister for their dedicated work towards achieving the goal.

The MP underlined the need to utilise the special package of Rs.11,440 crore allocated for the plant in an effective manner. The package includes new equity infusion, working capital support and permission to issue preference shares and brings in new energy into the steel plant’s operations, he added.

Apart from utilising the package effectively, the MP mentioned that efforts are on to enhance the operation of the plant to its full capacity by August, operating all the three blast furnaces, strengthening ancillary units and enhancing material security. ”VSP is a right won by the people of AP through sacrifices and concerted battle. Today, to ensure the revival of VSP, the CM, Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and Union Steel Minister HD Kumaraswamy worked collectively to announce the revival package. VSP is a strategic asset for AP, and securing this package within seven months of efforts is a significant achievement,” Sribharat said, adding that prevention of privatising VSP forms a part of his election manifesto.

Further, the MP highlighted the necessity of bringing comprehensive reforms at all levels of the steel plant. He assured that, as a local MP, he would take the onus of initiating steps in collaboration with the Ministry of Steel to ensure these reforms. ”From the moment I took oath as an MP, I initiated discussions with the Union Ministers, including Union Steel Minister HD Kumaraswamy, to flag the challenges faced by the plant and its current scenario impacting its employees. Today, the Centre’s decision to allocate the revival plan package validates the trust placed in me by the people,” the MP underlined.