No Plans To Stop Vizag Steel Plant Disinvestment Process: Centre

NEW DELHI: The Centre said that there were no plans to freeze the disinvestment process of the Visakhapatnam Steel Plant (RINL) in Andhra Pradesh.

The Steel Ministry clarified the same on Friday after media reports had come out regarding the hold on the disinvestment process of the state-owned steel maker, and stated that the disinvestment process of RINL is in progress. However, efforts are being made by the company to improve the performance of RINL, it added.

Under the Ministry of Steel, Rashtriya Ispat Nigam Limited owns and operates the Vizag steel plant with an annual capacity of about 7 million tonnes (MT) located at Visakhapatnam. he Cabinet Committee on Economic Affairs (CCEA) on January 27, 2021, gave its 'in-principle' approval for 100 percent disinvestment of the government stake Vizag Steel Plant, along with RINL's stake in its subsidiaries/joint ventures through strategic disinvestment by way of privatisation. 

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