Andhrapradesh Chief Minister N.Chandrababu and NDA Promised in Election campaign its could be materialised as Prime Minister Narenrdra Modi agreed to revival of RINL and Goodnews and New year gift to Andhrapradesh !
Revival of the Rashtriya Ispat Nigam Limited (RINL) Steel Plant, commonly known as the Vizag Steel Plant, has emerged as a critical issue The plant, which faced disinvestment approval during the Modi government’s previous tenure, is now the subject of renewed efforts for Chief Minister Chandrababu Naidu and Union Heavy Industries and Steel Minister HD Kumaraswamy. Both leaders have jointly appealed to the Prime Minister to reconsider the disinvestment decision and prioritize the plant's revival.
HD Kumaraswamy on Tuesday said that PM Modi supports the revival of RINL and finance ministry is committed to supporting the recovery.
Despite resistance from the Finance Ministry, which has rejected two revival proposals, the Steel Ministry has introduced a new modernization plan. The proposal includes replacing the plant’s three existing blast furnaces with electric arc furnaces and adopting Japanese technology. The modernization project is estimated to cost Rs 7,500 crore and aims to make the plant more competitive and sustainable
The Telugu Desam Party (TDP), a key constituent of the NDA, continues to leverage its alliance to secure substantial gains from the Central government for Andhra Pradesh. In the previous interim budget presented by union Finance Minister Nirmala Sitharam for 2024-25, the Centre announced a special package for Andhra Pradesh by allocating Rs 15,000 crore financial assistance to develop Amaravati. Currently.
In addition to the Vizag Steel Plant revival, Hindustan Petroleum Corporation Limited (HPCL) is advancing its modernization and expansion efforts in Visakhapatnam. The refinery's capacity is set to increase from 8.3 MMTPA to 15 MMTPA.
Furthermore, HPCL is establishing a green hydrogen plant with a capacity of 370 tonnes per annum at the Visakh Refinery.
Meanwhile, reports have emerged that the full-fledged budget of Modi 3.0 government will be unveiled by Finance Minister Nirmala Sitharaman on February 1.
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