Amaravati: Prime Minister Narendra Modi said on Friday that the Visakhapatnam Steel Plant has a special place in the hearts and minds of the people of Andhra Pradesh.
The Prime Minister posted on X that during the Cabinet meeting, it was decided to provide equity support of over Rs 10,000 crore for the plant.
“This has been done understanding the importance of the steel sector in building an Aatmanirbhar Bharat,” he said.
Earlier, Union Minister Ashwini Vaishnaw announced that the Prime Minister approved a revival package worth Rs 11,440 crore for Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Visakhapatnam Steel Plant. In the overall package of Rs 11440, fresh equity infusion would be worth Rs 10,300 crore and the conversion of working capital loan into preferred share capital of Rs 1,140 crore.
The Union Minister told reporters in Delhi that the Visakhapatnam Steel Plant is a very important steel company in the overall steel sector of the country.
He hoped that with this revival package, many of the historical legacy problems that RINL used to face would be resolved.
Andhra Pradesh’s Deputy Chief Minister Pawan Kalyan thanked Prime Minister Modi for the financial package.
“The sacrifice of Amruta Rao garu and countless others who gave their lives for the Visakhapatnam Steel Plant in 1966 burns eternal in our hearts. Their blood and tears laid the foundation for what stands today not just as a factory, but as the pride and identity of Telugu people,” Pawan Kalyan said in his post on X.
“Today, the NDA government’s decision of providing a financial package of ₹11,440 crores for the Visakhapatnam Steel Plant isn’t merely a number – it represents renewed hope for thousands of families: every worker whose hands have shaped steel, every employee who has dedicated years of service, and every contractor who has stood by this plant through its challenges,” said the actor-politician.
The Jana Sena leader thanked the Prime Minister on behalf of the people of the state for ‘steadfast commitment to our state’s development, your vision of Atmanirbhar Bharat finds one of its strongest pillars in our Visakhapatnam Steel Plant.’
Pawan Kalyan also thanked Union Finance Minister Nirmala Sitharaman and Union Steel Minister H. D. Kumaraswamy for their ‘unwavering support strengthens not just a plant, but the dreams of millions of Telugu people’.
“We assure the people of the country that our government in the State led by our Hon’ble Chief Minister Nara Chandrababu Naidu garu shall ensure that Visakhapatnam Steel Plant will not just survive – it will thrive and stand as a testament to Telugu pride in building Viksit Bharat 2047. This is not just a financial revival – but the fulfilment of a promise written in the sacrifices of 1966. The spirit of Visakhapatnam Steel lives on!,” the Deputy Chief Minister added.
Meanwhile, Civil Aviation Minister K. Ram Mohan Naidu thanked Prime Minister Modi and Chief Minister N. Chandrababu Naidu for the revival package.
The Telugu Desam Party (TDP) leader said this fulfilled their election promise. He thanked the Prime Minister and the Chief Minister for their ‘unwavering support in halting the privatisation of Visakhapatnam Steel Plant and ensuring it resumes full-fledged production.’
“Under your visionary leadership, Andhra Pradesh is set to achieve greater heights of progress and prosperity,” he said.
Minister of State for Rural Development and Communications Dr Chandra Sekhar Pemmasani also hailed the revival package.
He stated that Rs 11,440 crore financial assistance from the Centre to Visakhapatnam Steel Plant is a landmark investment in Andhra Pradesh’s industrial sector.
He thanked Prime Minister Modi, Chief Minister Naidu, Deputy Chief Minister Pawan Kalyan and Union Steel Minister H. D. Kumaraswamy for their relentless efforts in advocating for this transformative support.
“This step strengthens the vision of ‘Aatmanirbhar Bharat’ and boosts regional development,” he said.
(IANS)
