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The Telugu Desam Party (TDP) may facilitate the revival of the Vizag steel plant, aligning with the center’s priorities.
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The plant’s capacity is expected to be doubled to 15 million tonnes under the new plan.
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The value creation model aims to enhance public sector undertakings and address the plant’s losses.
The Vizag steel plant, which has been facing losses and stalled privatization plans, may see a revival with the TDP’s cooperation with the center. The plant’s capacity, which has dropped significantly, is expected to be doubled to 15 million tonnes under the new plan. The focus will be on “value creation” to enhance public sector undertakings.
The plant, commissioned in 1991, was profitable between 2001 and 2016 but returned to losses due to various issues. The new plan aims to address these issues and make the plant profitable again. Several meetings have taken place between Andhra Pradesh government officials and Union Heavy Industries and Steel Minister H.D. Kumaraswamy to discuss the revival plan.
