TDP rubbishes rumours on ‘privatisation' of VSP
Srinivasa Rao said Chief Minister N Chandrababu Naidu is making proactive efforts to save the plant, he noted that the plant has received a crucial financial lifeline with more than Rs 14,000 crore in funding, Rs 11,440 crore from the Central government and Rs 2,600 crore from the state, to meet operational needs for raw materials, power, and water.
He recalled that during a previous crisis in 1998, leaders secured Rs 1,350 crore to save the plant. Now, with the combined sup port of CM Naidu, Union minister Ram Mohan Naidu, MP Sribharat, and the Modi-led Central government, the plant is once again on course for profitability.
Refuting privatisation rumours, Srinivasa Rao clarified only some contract work is outsourced to private firms to enhance service quality, a longstanding practice. He emphasised that with over 15,000 contract workers, production is steady, but the plant must run at least two of its three blast furnaces at full capacity to break even. Achieving this operations level could result in profits of Rs 100–200 crore per month, even with a monthly wage bill of Rs 240 crore.
Srinivasa Rao criticized the previous YSRCP government for operating at just 20–30 per cent capacity from 2020–2025, resulting in heavy losses, and accused some labour leaders of illegal fund collection. He called for a probe into these allegations and warned against spreading misinformation, particularly on social media, stating, 'False knowledge is more dangerous than ignorance.'
Assuring public sector status, Srinivasa Rao said the coalition government is committed to the plant's prosperity and worker welfare, with ongoing efforts for the 8,000 displaced families. He concluded that under Chief Minister Naidu's leadership, any rumours about privatisation will be firmly countered.
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