Chief Minister YS Jaganmohan Reddy said that there are many alternatives to stop the privatization of the Visakhapatnam steel plant.
Justifying the losses that have been coming for a while, the NITI Aayog has said that there is no other way left for the Center except to privatize the Steel plant.
In a letter to Prime Minister Narendra Modi, Chief Minister YS Jagan proposed a clear roadmap to keep the Visakhapatnam steel plant in the public sector and turn it into a profitable one.
With a capacity of 7.3 million metric tonnes, the plant had a manufactured 6.3 million metric tonnes of output last December earning Rs 200 crore. He explained that if the plant is run in the same manner for two years, the economic situation will improve.
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