Trade union leaders call for a united strike on May 20
They emphasised that they are going on a strike to bring in long pending issues of the plant to the management's notice, appeal to look into them and resolve them at the earliest.
Withdrawing strategic sale of the Rashtriya Ispat Nigam Limited, allotting captive mines to the plant and merging RINL with SAIL along with ensuring raw materials before starting blast furnace-3 topped the demand list.
The other demands include reinstating contract workers who were removed from the service, implementing new wages, paying complete salary every month, restoring HRA with retrospective effect, restoring welfare measures which were stopped by the management and providing employment for displaced family members.
Union leaders of AITUC, INTUC, CITU, YSRTUC, VSEU, among other units mentioned that the demand is also to stop privatisation of public sector undertakings, scrap National Monetization Pipeline (NMP), amend existing law on mining of minerals and metals and ensure 50 percent share of profit from mines, including coal mines for upliftment of local communities, especially Adivasis and farmers.
In addition, appeal to stop unilateral decisions on workers' or work-related issues, no termination of employment of contract workers as being done in various establishments including RINL, restoration of old pension scheme and scrapping of NPS and UPS, removal of all ceilings on payment and eligibility of bonus, PF and gratuity forms a part of the demand list.
The strike will continue from 6 am on May 20 to 6 am on May 21.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
4 hours ago
- The Hindu
CITU leader dares Palla to prove ‘VSP ghost workers' allegations
Taking a strong exception to the remarks made by TDP State president Palla Srinivasa Rao on the issues related to privatisation of the Visakhapatnam Steel Plant (VSP), CITU State general secretary Ch. Narasinga Rao has accused the TDP-led alliance government in Andhra Pradesh of 'supporting the Centre's decision on strategic sale of the PSU'. A notification was issued on August 16 calling for bids for Expression of Interest (EOI) for the operation and maintenance of 34 wings of the VSP. Prospective bidders were asked to apply by September 9. On Tuesday, Mr. Srinivasa Rao reiterated that the NDA government was committed to protecting the VSP. However, he said that some harsh decisions were inevitable for the continuation of the VSP as a PSU, including privatisation of some sections of the plant to improve productivity and reduce costs. Referring to it, Mr. Narasinga Rao condemned the TDP State president for 'justifying the firing of workers on the plea of improving efficiency'. 'The VSP has some of the best workers in the country and the quality of Vizag steel continues to be impeccable. Concealing these facts, ground has been prepared for handing over the VSP to Arcelor Mittal,' he alleged. He alleged that the Centre had unilaterally terminated the services of 5,000 contract workers, 'with the support of the TDP and JSP'. Highly qualified officers and workers were shown the door, in two phases, under the Voluntary Retirement Scheme (VRS), he said. He dared Mr. Srinivasa Rao to prove his allegations related to 'ghost workers' and the involvement of trade union leaders in corrupt practices. Disputing the claims made by the TDP State president, Mr. Narasinga Rao said that the three Blast Furnaces were working during the YSRCP's tenure. 'The Centre had deliberately shut down two blast furnaces in 2021 and pushed the plant into losses of ₹7 crore as part of its plan for the strategic sale. While VSP, which has an annual production capacity of 50 lakh tonnes, was given a loan of ₹11,440 crore, while the Bhadravathi Steel Plant in Karnataka, with a production capacity of 50,000 tonnes, was given a grant of ₹18,000 crore,' he said. The Centre had bowed to pressure from the party which had just two MPs and gave ₹18,000 crore. He wondered as to what the 23 MPs from A.P. had done for the VSP. CITU district general secretary RKSV Kumar, Public Sector Coordination Committee convener S. Jyothiswara Rao and Steel Plant Employees Union general secretary U. Ramaswamy were present.
New Indian Express
14 hours ago
- New Indian Express
RINL invites bids to operate 32 critical units of steel plant in Andhra
VISAKHAPATNAM: The long-running debate over the future of Visakhapatnam Steel Plant (VSP) has taken a fresh turn with Rashtriya Ispat Nigam Limited (RINL), the corporate entity of VSP, inviting private participation in more than 30 key segments of the plant. According to the latest notifications issued on August 16, RINL has sought Expressions of Interest (EOIs) from private players to operate 32 critical units of the steel plant. The 32 segments for which RINL has invited Expressions of Interest include major power and steel-making units such as Captive Power Plants-1 and 2, Waste Heat Recovery Boilers, Turbo-generators, Coal Handling Plant of Thermal Power Plant, Continuous Casting Machines (CCM-1, 2, 3 and 4) of SMS-2, Secondary Metallurgy of SMS-1, and the BOF shops of SMS-1 and SMS-2 along with associated auxiliaries. Other units notified are the finishing and shipping areas of the Medium Merchant and Structural Mill (MMSM), Structural Mill (STM), Special Bar Mill (SBM) and Wire Rod Mills (WRM-1, 2 and 6), roll shops and repair shops, central machine shop, iron and steel foundry, and energy and environment management department, including gas safety systems.
Economic Times
a day ago
- Economic Times
India's InvIT market to surge 3.5x to USD 258 billion by 2030: Knight Frank study
India's InvITs are poised for rapid growth, with assets under management projected to rise from USD 73.3 billion in FY25 to nearly USD 258 billion by 2030, driven by infrastructure push, policy support, and private capital participation. Tired of too many ads? Remove Ads InvITs Outpacing REITs in India Driving Forces Behind Growth Tired of too many ads? Remove Ads Untapped Sectoral Potential Strategic Priorities for the Next Phase Tired of too many ads? Remove Ads Global Positioning India's Infrastructure Investment Trusts (InvITs) are set for an unprecedented growth phase, with their total assets under management (AUM) projected to rise 3.5 times from USD 73.3 billion in FY25 to nearly USD 258 billion by 2030, according to Knight Frank India's latest report highlights India's emergence as a global infrastructure investment hub, ranking fourth in Asia for combined Real Estate Investment Trust (REIT) and InvIT market capitalisation, at USD 33.2 billion as of July five listed REITs and 17 InvITs, India has rapidly scaled since its market inception in 2014, backed by robust infrastructure spending and policy total AUM of REITs and InvITs combined has more than doubled to USD 93.9 billion in FY25 from USD 42.1 billion in FY20. InvITs dominate with nearly 3.5x higher AUM than REITs, underscoring their importance in financing large-scale infrastructure Baijal, Chairman and Managing Director, Knight Frank India, said: 'India's InvIT platform is at the threshold of a transformative growth phase. From an AUM base of USD 73 billion today, we are set to scale to USD 250–265 billion by 2030. InvITs will not only bridge critical infrastructure financing gaps but also open new pathways for domestic and global capital to participate in India's growth story.'Infrastructure Push: Central government spending on core infrastructure rose 6.2x in a decade to USD 75 billion in FY25, with investments now accounting for 2% of Capital Participation: InvITs enable capital recycling by channeling institutional and retail funds into brownfield operational Initiatives: The National Monetisation Pipeline (NMP) has mobilised INR 6 trillion till FY25, with NMP 2.0 targeting INR 10 trillion by 2030, creating fresh opportunities for InvIT-backed report identifies roads, renewable energy, telecom, logistics, and gas pipelines as high-potential segments. For example:Only 21% of operating NHAI toll assets are under InvITs currently manage just 2% of installed solar capacity, against a government target of 230 GW by towers have reached one-third penetration, with room for significant areas such as data centres, urban transport, water infrastructure, airports, and ports also offer strong opportunities for InvIT unlock the next wave of growth, Knight Frank suggests:Expanding retail investor participation through awareness campaigns and simplified exposure for pension and insurance funds, currently limited to 3–5%.Offering currency hedging tools to attract higher foreign capital InvITs into new infrastructure categories to deepen the investment Vijay, Executive Director – Government & Infrastructure Advisory, Knight Frank India, noted: 'The next chapter for India's InvIT market will be about depth and diversity. With policy stability, regulatory clarity, and risk management tools, India can position itself among the world's leading infrastructure investment destinations.'Globally, REITs and InvITs represent a USD 3 trillion market, led by the US, Germany, and Japan. India, though smaller in scale, is one of the fastest-growing markets, well-positioned to move into the top three in Asia within the next decade.
