Revival of Vizag Steel Plant: A Major Win for Andhra Pradesh

Andhra Pradesh CM N Chandrababu Naidu announced that the Vizag Steel Plant will not be privatised, with the Centre providing Rs 11,440 crore in financial aid. Naidu urged stakeholders to effectively use these funds for the plant's revival, highlighting collaboration with NMDC for raw materials procurement.

In a significant development, the Vizag Steel Plant in Andhra Pradesh will avoid privatisation, thanks to a financial package of Rs 11,440 crore from the Centre. Chief Minister N Chandrababu Naidu broke the news at a press conference in Undavalli.

Naidu emphasized the importance of efficient use of taxpayer funds for the plant's revival and called for the appointment of a professional management team. He also announced a partnership with the National Mineral Development Corporation to secure iron ore and other essential raw materials.

Naidu further highlighted the favorable impact on the local economy, noting projects and investments aimed at boosting the Andhra Pradesh region. He praised Prime Minister Narendra Modi and the NDA government for fulfilling promises, citing several major infrastructural projects and investments.

(With inputs from agencies.)