Several former employees of Hindustan Zinc Limited and local activists have launched a peaceful agitation against attempts by Vedanta, which owns 69% stake in the company to sell away valuable lands of Zinc Smelter at Mindi here.
Under the banner of Hindustan Zinc Samrakshana Samiti led by convener Pitta Narayana Murthy, protests are being staged for the last few days seeking the government’s intervention to stop de-notification of 365 acres of industrial land paving the way for realty business. The panel was formed recently to oppose sale of land and put pressure on the government for the revival of Zinc Smelter.
Vedanta (erstwhile Sterlite) had picked up 69% equity in HZL, public sector company PSU in 2013 in the face of stiff resistance by the workers. However, the Zinc Smelter here was shutdown for a year by the management saying due to pollution and high cost of sourcing raw material from Rajasthan and Bihar, they were not able to operate the plant.
Contrary to their claim, at the time of strategic sale of equity in HZL, they had claimed that it was meant to strengthen the organisation and the disinvestment would not jeopardise the interest of workers. “It is a classic instance of how disinvestment of PSUs is meant to loot away public property. HZL got land at ₹850 per acre in 1975 and now the management was trying to sell it to realty companies at ₹5 crore per acre,” CITU State president Ch. Narsinga Rao told The Hindu .
He said the company had invested about ₹445 crore in buying majority equity and now Vedanta was trying to earn huge amount by indulging in realty business. It had already approached the authorities to secure clearance for de-notification of the land from industrial category.
