Allegations Of AP Govt Selling VSP To Korean Company Posco Holds No Ground: YSRCP

Brushing aside the allegations of Opposition on the Andhra Pradesh’s role in the privatization of  Visakhapatnam Steel Plant (VSP), YSRCP has said the Chief Minister has made his view clear in the letter to Prime Minister.

The allegations that the State is selling VSP to Korean Company Posco stands no ground as it is the Centre that governs the Steel Plant, Party spokesman Ambati Rambabu told media here on Wednesday. He affirmed that the State government meeting with POSCO Company is not regarding the steel plant but for investment options.

he steel plant is a central government organisation and there is no possibility for the State government to sell it for a private company. Turning down the allegations of State government having talks with POSCO to sell the steel plant, Ambati said that the company people have also met Chandrababu Naidu during his term for investments, and they met Chief Minister to explore investment opportunities.

He said that the union government has taken a decision to privatize the steel plant in 2018 when Chandrababu Naidu was Chief Minister. He stated that the steel plant was in a profitable condition until 2015, but all of a sudden it ran into a pile of losses, which was during TDP rule.

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