New era has begun for Vizag Steel Plant, H D Kumaraswamy

Union Steel Minister H D Kumaraswamy on Thursday assured full support to Rashtriya Ispat Nigam Ltd (RINL) or Vizag Steel Plant (VSP), noting that a new era has begun for the industry. Kumaraswamy visited the steel plant in his first visit following the extension of Rs 11,440 crore revival package and engaged with employees and officials, accompanied by Minister of State (MoS) for Steel B Srinivasa Raju and others. "Visited the plant, engaged with employees & officials, and assured full support for its revival. With a target of 7.3 million tonnes of annual production, this move strengthens India's steel sector and aligns with the PM's goal of 300 MTPA steel production by 2030," he said in a post on 'X'.
According to the Union Minister, Prime Minister Narendra Modi is paving the way for a self-reliant and stronger domestic steel industry, ensuring growth and prosperity for Andhra Pradesh and the nation.In line with the PM's vision, he said the revival package was announced for the steel plant, explaining the significance of this financial impetus to VSP's employees and officials. Kumaraswamy who visited the Visakhapatnam Steel Plant said that reviving the steel plant is important to strengthen India’s steel sector and achieve Prime Minister Narendra Modi’s goal of 300 Million tons per annum steel production by 2030. 
Kumaraswamy observed that the steel plant's operations were fine until 2013-14 but started facing losses only after it decided to inflate production, adding that VSP currently has a debt of Rs 35,000 crore. Moreover, the Union Minister said that he held several reviews over VSP after taking charge of the Steel Ministry.