Amaravati: There are many alternatives to stop the privatisation of the Visakhapatnam steel plant, and many experts have made it clear that the chief minister Y S Jagan Mohan Reddy's suggestions to think first are the best ways to stop the privatisation of the visakhapatnam steel plant. The centre is not going to be able to sell the steel plant as a basket because niti aayog has said that it is not right to sell the steel plant as a basket. Chief Minister YS Jagan has proposed a clear roadmap in a letter to Prime Minister Narendra Modi to keep the Visakhapatnam steel plant in the public sector and to bring profits. The plant, which has a capacity of 7.3 million metric tons, has been operational in December last year with a capacity of 6.3 million metric tons, making rs 200 crore.

In the same way, the plant will be able to improve the economic situation if it runs for two years. - Additional payments to crude minerals are burdening the plant with Rs 3,472 crore. The CM asked for the cost of production to be reduced and action sought to be taken in this direction. The iron ore mines in Odisha suggest that the plant can be taken back to progress. The steel plant is currently purchasing our crude mineral at Rs 5,260 per metric tonne from The Bailadilla mines of NMDC, which is now the most negative for the steel plant.

All the competitive industries have their own mines, 60 per cent of the raw mineral requirements are met by their own mines, while the remaining 40 per cent are purchasing from NMDC. Sail has mines that meet the requirements of raw mineral for 200 years. Loans can be converted into shares, the steel plant will reduce the pressure and there will be no interest risk, the CM said. About 14 per cent interest is payable for loans of Rs 22,000 crore. The CM said that these loans can be converted into shares and banks can be given an exit option through stock exchange listing. So that the fundraiser will also be mobilized from the people and the plant will run well. The Chief Minister suggested that the Visakhapatnam Steel Plant has thousands of acres of land and the plant and township, and the rest of the land will be made to create a green city (plot) and the state government will also be allowed to do so. This money is very useful for the plant.

Many experts suggest that the central government should bear the losses to protect a public sector company, or waive those losses. Plant employees are saying the same thing. If niti aayog or someone else objects to this, why should none of the ONGC or other public sector companies in the profit stake take action? Experts suggest that the surplus land for the plant can be called by tenders and sold at a good price, or a long-term lease. So that the money will be allocated to the plant and a new action plan can be prepared to reduce losses. If this is not possible, you can go to the designation like Durgapur Steels. Plant employees say that 'SAIL' is in losses despite own mines and it is painful to ignore the fact that Visakhapatnam Steels, which has no own mines, has earned profits of Rs 200 crore last year. There are so many privatizations to help the plant, but it is not worth privatisation.

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