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NEW DELHI: The steel ministry clarified on Friday that the disinvestment of Rashtriya Ispat Nigam (RINL) is under progress, a day after Union minister of state for steel Faggan Singh Kulaste said the Centre has frozen plans to privatise Visakhapatnam Steel Plant.
Reacting to some reports regarding a hold on the disinvestment process of RINL, the steel ministry said that the disinvestment process of RINL is under progress and efforts are being made by the company and supported by the government to improve performance and to keep it as a going concern.
The junior steel minister had told reporters on Thursday that the Centre is focusing on strengthening the steel plant to achieve full capacity by sorting out raw material issues and the government will discuss the issue with the plant management.
Kulaste, who had later held talks with trade unions, said the central government was keen on sorting out the captive mines issue and strengthening the Visakhapatnam steel plant, which is the country’s first shore-based integrated steel plant with a workforce of 14,800.
RINL is a navaratna steel PSU and the corporate entity of Visakhapatnam steel plant under the ministry of steel. The government had been making efforts to go for a strategic sale of the steel plant for the past two-three years but the efforts did not make much headway. But since then, the Centre had drawn up a strategy to press ahead with the sale.
Reacting to some reports regarding a hold on the disinvestment process of RINL, the steel ministry said that the disinvestment process of RINL is under progress and efforts are being made by the company and supported by the government to improve performance and to keep it as a going concern.
The junior steel minister had told reporters on Thursday that the Centre is focusing on strengthening the steel plant to achieve full capacity by sorting out raw material issues and the government will discuss the issue with the plant management.
Kulaste, who had later held talks with trade unions, said the central government was keen on sorting out the captive mines issue and strengthening the Visakhapatnam steel plant, which is the country’s first shore-based integrated steel plant with a workforce of 14,800.
RINL is a navaratna steel PSU and the corporate entity of Visakhapatnam steel plant under the ministry of steel. The government had been making efforts to go for a strategic sale of the steel plant for the past two-three years but the efforts did not make much headway. But since then, the Centre had drawn up a strategy to press ahead with the sale.
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