Vizag Steel Plant Privatization: Pawan Kalyan Issues A Deadline: The agitation of Vizag Steel Plant Privatization reached new heights after Pawan Kalyan joined the protests yesterday. Janasena followers and supporters reached Vizag in huge numbers. During his speech, Pawan Kalyan imposed a deadline of one week for the government of Andhra Pradesh.
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A view of Visakhapatnam Steel Plant (VSP) under the corporate entity Rashtriya Ispat Nigam Ltd
State-owned Rashtriya Ispat Nigam Limited (RINL) will raise Rs 1,000 crore from the sale of its 22.19-acre land in Visakhapatnam. Just last week, state-run construction company NBCC Ltd said it has executed an MoU with RINL for redevelopment and monetisation of 22.19 acres of land in Visakhapatnam. The company expects to get around Rs 1,000 crore as the market price of land is around Rs 1 lakh per square yard, a source in the company told news agency PTI.
The amount raised will be utilised by the company to pay back portion of debt. According to available data on RINL s website, the company had a debt of Rs 19,592 crore in financial year 2018-19.Â