To enjoy additional benefits. Published July 10, 2024 10:13 pm IST  Visakhapatnam. Union Steel Minister H.D. Kumaraswamy reaches Visakhapatnanm on Wednesday. Photo Credit: SPECIAL ARRANGMENT. Union Steel Minister H.D. Kumaraswamy will hold a review meeting with the management of the Rashtriya Ispat Nigam Limited RINL, the corporate entity of Visakhapatnam Steel Plant, on the steel plant premises here on July 11 Thursday. Leaders of various unions, who have been fighting for more than 1,000 days against the proposal to privatise the steel plant among other issues, are ready to take the opportunity to meet the Union Steel Minister directly. They reportedly will seek merger of RINLVSP with the Steel Authority of India Limited SAIL. According to them, there will be no alternative to the problem except the merger of the steel plant with the SAIL. The steel plant requires at least 13,000 crore immediately to return its original status. To get such a huge amount from the NDA government is impossible, they say and add that merger is the only solution. Speaking toThe Hinduon Wednesday July 10, president of Steel Executives Association SEA Katam S.S. Chandra Rao said, Merger with the SAIL is the only option for the RINL at this juncture. There is no best and immediate alternative solution to the Vizag steel plant as it is completely dead in all respects. We have been given 11.30 a.m. slot on July 11 to meet the the Steel Minister. We will raise our issue with him. . Another steel plant union leader J. Ayodhyaram said, Apart from merger with SAIL, we will also request the Steel Minister to give a twoyear tax exemption to revive the steel plant. The steel plant paid 54,000 crore as tax, including 40,000 crore to the Centre and 14,000 crore to the State, since its inception. So, we are asking for twoyear tax exemption. . According to official sources, Mr. Kumaraswamy will visit the plant before conducting a meeting with the officials. Later, he would have a brief interaction with the union leaders before leaving for Hyderabad in the afternoon. After assuming charge as Steel Minister he has till now covered nearly four major PSUs, the sources added. BACK TO TOP. Terms  conditionsInstitutional Subscriber. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by ourcommunity guidelinesfor posting your comments. We have migrated to a new commenting platform. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.
Union Steel Minister H.D. Kumaraswamy will meet with union leaders at Visakhapatnam Steel Plant to discuss the merger with SAIL as a solution to financial problems. They seek a merger due to the steel plant's dire situation and the need for immediate funds, suggesting a two-year tax exemption for revival. The Minister will visit the plant, meet officials, and then engage with union leaders before departing for Hyderabad.