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Visakhapatnam steel industry is becoming a hot topic with privatization on one side and concerns on the other. What is the survival of Visakhapatnam steel industry? How much turnover this year? The questions were answered from the center. Minister Faggan Singh Kulaste answered YCP MP Vijayasai Reddy’s question in the Rajya Sabha.
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The Minister said that Visakhapatnam Steel Plant has created a new record in steel production, sales and turnover. 28,214 crore annual turnover in 2021-22. Minister of State for Steel Faggan Singh Kulaste revealed that compared to the turnover achieved in 2020-21, there has been a growth of 57 percent. In the Rajya Sabha on Monday, the minister replied in writing to a question asked by YSRCP members V. Vijayasai Reddy and said that “Rashtriya Ispath Nigam Limited” (RINL) which recorded an annual turnover of 16,618 crore rupees in 2017-18 has achieved a turnover of 28,214 crore rupees in 2021-22.
If this is the case, the center has made it clear that there is no change in the idea of privatization of Visakhapatnam. Minister of State for Steel Faggan Singh Kulaste replied to a question asked by TDP MP Kanakamedala Ravindrakuman. In the financial year 2021-22 Visakha Steel Industry Rs. 913 crores profit has been earned, he said. The steel industry trade unions are divided over the Centre’s stand.
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