Protests Against Vizag Steel Plant Sale

• Employees of the Visakhapatnam Steel Plant (VSP) have protested against the strategic sale of the Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant (VSP), since Finance Minister Nirmala Sitharaman announced the sale in January 2021.
• The plant, the only shore-based steel making public sector unit in India, has been making significant losses and has drastically reduced daily production.
• The management has cut all benefits for employees and salaries are delayed by over 20 to 30 days every month.
• The plant is cash strapped, unable to draw imported coking coal for its coke oven from warehouses at the Gangavaram and Visakhapatnam ports.
• The VSP has a huge land bank of about 20,000 acres with a market value of about ₹1 lakh crore.
• The strategic sale of the VSP has been a political issue and was used as a plank in the 2024 elections.
• The protestors have two main demands: the VSP should be given a captive mine and the plant can be merged into the Steel Authority of India Limited (SAIL).
• The Centre is considering a revival package or a merger with SAIL, but the outcome of the RINL-VSP remains uncertain.