YS Jaganmohan Reddy the CM of AP may visit the Visak steel plant it is learnt. He is planning to visit the Swamy of Sarada Peetham here at Chinnmushidiwada in Visakhapatnam soon.
After visiting his Guru , Jagan may talk to the steel plant employees it is reported.
RINL-VSP, or Visakhapatnam Steel Plant (VSP) as it is popularly known, has since 2014-15 been recording losses and has been finding it difficult to service its debt.
The main issue with the plant is that it does not have capative mines and the cost of production is going up in the process.
The losses have been attributed to the present unfavourable global steel cycle, and a high cost of production at the plant thanks to the absence of a captive mine.
VSP, which happens to be the largest public sector industrial unit in Andhra Pradesh, has close to 18,000 employees on its rolls, while another 80,000 people mostly in the city of Visakhapatnam are indirectly gainfully employed thanks to the steel plant.
The proposed move to privatise the steel plant has been opposed by both local people, who have taken out huge rallies, and the State’s political hierarchy, who, cutting across party lines, have forcefully maintained that the State had an inseparable connection with the steel plant.
It is reported that the dead bodies of the employees who die outside due to health reasons were brought back and dumped in the plant so that it is shown as an on duty death and a job was created to the family members.
