Visakhapatnam Steel Executives Association (SEA) Representatives Have Courtesy Meeting With Joint Secretary MoS GOI
Joint Secretary Vinod Kumar Tripathi, IRS had come to study the key aspects of Visakhapatnam Steel Plant
Visakhapatnam Steel Executives Association (SEA) representatives today, had a courtesy meeting With Joint Secretary Ministry of Steel, Vinod Kumar Tripathi, IRS, who had come to study the key aspects of Visakhapatnam Steel Plant.
Explaining the problems of Visakha Steel (RINL) on this occasion, SEA informed that the permanent solution to these problems is to re-merge Visakha Steel (RINL) with Steel Authority of India Limited (SAIL.)
According to the steel policy of the Government of India, the Steel Authority of India Ltd. is going to increase the production capacity by 10 million tonnes with one lakh ten thousand crore rupees. And also informed that RINL is producing less than capacity only due to shortage of ore and working capital after invested ₹ 22,000 crore rupees for expansion of capacity. on the other hand increasing the production capacity of SAIL without utilizing the full production capacity in RINLis not an economically sound decision by GOI. In the same way, also informed that if the Visakha steel is produced according to its capacity, there will definitely be huge profits, for example, in the financial year 2021-22, 5.6 million tons produced and earned profits of 900 crores. SEA presented a full-scale report outlining the benefits to be accrued by the merger of RINL & SAIL to JS.
President Katam SS Chandra Rao, General Secretary K V D Prasad, Vice President Chandra Venkateswara Rao participated in this meeting.
