The RINL, corporate entity of Visakhapatnam Steel Plant, should invest in the now-defunct Brahmani Steel Plant proposed to be taken up in Kadapa district along with SAIL, BJP MP-elect K Haribabu said.
“I was keen that this be included in the AP Reorganisation Bill 2013 that was presented in Parliament. However, the Act only has mention of SAIL,” Mr. Haribabu told Chairman and Managing Director RINL P Madhusudhan, who called on him on Sunday. He wanted the RINL to take up the issue and pick up at least 10 per cent stake in the project as that would help it stake claim for captive mines.
The CMD said the company would be ready to take a higher stake if allowed and promised to follow it up. He said the steel plant had some issues like water shortage in April which, the State government officials promised to address and it was no longer an issue. The State government had also eased the restrictions on power and the company was now facing no major issues.
“As a local I can assure you that if there are any problems being faced by the company, I shall immediately address them,” the MP-elect promised the steel plant delegation.
The modernisation of the steel plant was on track and production was being stabilised, Mr Madhusudhan said. Welcoming the new governments both at the State and the Centre, he said the steel plant would approach them again for allotment of captive mines. “I believe that the governments would react favourably to our requests,” he said. The company has raised the target by another 45 per cent for the current fiscal, he added.
