SEA Office Bearers Meet BJP AP State General Secretary Independent Director Of SAIL
SEA submitted a full-scale detailed report outlining the benefits by the merger of RINL with SAIL
Steel Executives Association representatives, on Monday, met BJP Andhra Pradesh State General Secretary and Steel Authority of India Limited ( SAIL) Independent Director Sagi Kasi Viswanatharaju at his office in Visakhapatnam to appreciate for the efforts being made for the re-merger of visakhapatnam Steel Plant into Steel Authority of India Limited. Talking to the SEA committee, he told that permanent solution to the problems of Visakha Steel (RIN) is to re-merge Visakha steel in Steel Authority of India Limited SAIL and he will continue his efforts till the end.
Steel Executives Association (SEA) President Katam SS Chandra Rao and General Secretary KVD Prasad appealed to him on that according to the Steel Policy of the Government of India, the Steel Authority of India Limited, is trying to increase the production capacity by 10 million tonnes with one lakh ten thousand crore rupees and at the same time and at the same time, under utilisation of RINL capacity due to shortage of working capital and raw materials after spending 22,000 crore rupees for Exapntion of Vizag steel is not good for nation’s economy.
SEA also informed that if Visakha Steel utilises it’s capacity of 7.3 million tonnes, it will earn huge profits. This was a proven fact that in the financial year 2021-22, RINL produced 5.7 million tons, which yielded profits of Rs. 940 crores. SEA also submitted a full-scale detailed report outlining the benefits by the merger.
SEA also appealed for an immediate solution to the financial problems currently facing the plant.
Similarly, due to the continuous postponement of the promotion policy of the officers from 2020, young dynamic professional officers are resigning from the plant, which may hinder the production due to the shortage of specialists in the future. SEA also informed that due to delay in promotions resulting vaccum in senior positions like Executive Director, Chief General Managers , plant is facing severe maintenance and operational issues.
In reply to the SEA, SV Raju assured that he will talk to the officials of the Ministry of Steel on this issue and ensured his support in solving this problems.
