Jagan to stall privatisation of RINL-Vizag steel plant

The decision was informed by the Chief Minister himself to the members of JAC of Ukku Parirakshana Committee who met him on his arrival at the city airport here on Wednesday

Visakhapatnam: Chief Minister YS Jaganmohan Reddy is all set to stall privatisation of RINL-Visakhapatnam steel plant.

This was informed by Jagan himself to the members of joint action committee (JAC) of Ukku Parirakshana Committee who met him on his arrival at the city airport here on Wednesday.
The Chief Minister was here on a visit to Sarada Peetham in Chinamushidivada in the city.
The JAC comprising 14 trade unions which also submitted a memorandum to him, exuded confidence that the Chief Minister would be successful in his effort.

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In the memorandum, the JAC suspected the Centre was vindictive towards Andhra Pradesh which was why it had decided to privatise the plant achieved after 32 persons laid their lives.

While the Centre had so far invested only Rs 4950 crore on the plant, the latter had paid as much as Rs. 40,000 crore in the form of taxes and sundries, including Rs. 8565 crore as state’s share, they pointed out. It was not proper to sell away the Rs. 2 lakh crore plant for a song at just Rs.1162 crore, they said.

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