The Tamil Maanila Congress on Friday joined the list of political parties which opposed the proposed disinvestment of the Salem Steel Plant .
In a statement here, TMC president G.K. Vasan said the plant, established in 1970, was a landmark in Salem . So far Rs. 2,797 crore has been invested in the plant. Any move to change the financial character of the plant would affect 2,000 families. Privatisation will also affect farmers who gave up land for the plant, he added. Mr. Vasan alleged that disinvestment is being pushed to the fore because of losses suffered by the Steel Authority of India Limited. He said that a similar attempt was made in 1997, but opposition by political parties had forced the government to drop the move.
