Steel Ministry Secretary to discuss revival of Visakhapatnam Steel Plant with Andhra Pradesh CM Chandrababu Naidu on March 31
The Hindu
Industries Minister discusses Visakhapatnam Steel Plant revival with Andhra Pradesh Chief Minister, financial package details revealed.
Industries & Commerce Minister T.G. Bharat stated that the Secretary of Ministry of Steel was scheduled to have a discussion with Andhra Pradesh Chief Minister N. Chandrababu Naidu in Amaravati on March 31 about the revival of Visakhapatnam Steel Plant (VSP) and improving its performance.
Visakhapatnam Steel Plant sets record with 31 lakh tonnes of hot metal production despite financial crisis
Replying to a question asked by Visakhapatnam South MLA Vamsi Krishna Srinivas on the release of Central funds to VSP in the Legislative Assembly on Monday (March 17, 2025), Mr. Bharat said the first tranche of ₹6,783 crore has already been released on January 30, 2025.
The ₹11,440 crore revival package approved by the Centre consisted of ₹10,300 crore equity (including ₹500 crore already released in September 2024) and conversion of a Government of India loan of 1,140 crore loan into 7% non-cumulative preference share capital redeemable after 10 years.
The Central Government was working out the plan of allocation of captive mines with the National Mineral Development Corporation Limited (NMDC) similar to the arrangement being made for the Arcelor Mittal steel plant coming up in Anakapalli district.
While sanctioning a financial package of ₹11,440 crore, the Central Government requested the State to waive power and water bills payable by the VSP for three years, and to take care of the security being currently provided by about 450 CISF personnel at an exorbitant cost of ₹100 crore.
The State Government was sorting these things out, Mr. Bharat said, adding that the ‘double engine government’ was committed to making VSP a quick turnaround and performer better than in the past.
Tejashwi Yadav criticices Bihar CM for failing to maintain law and order, highlighting increasing attacks on policemen.
Southern Railway disappoints commuters by announcing no resumption of MRTS cross-sectoral services due to infrastructural constraints.
MLAs and MLCs to compete in sports competitions at IGMC Stadium in Vijayawada, organized by SAAP.
Following Deputy Chief Minister D.K. Shivakumar’s directive to curb unauthorised flex boards and banners in Bengaluru, the Bruhat Bengaluru Mahanagara Palike (BBMP) has initiated strict action, filing at least 12 cases on Monday against those responsible.
Following protests by residents of Mittaganahalli and Kannur villages over dumping the city’s waste in the Mittaganahalli quarry pit, the Bruhat Bengaluru Mahanagara Palike (BBMP) will soon issue tenders and work orders and begin work on rural development projects worth ₹500 crore in these areas, Chief Civic Commissioner Tushar Giri Nath said on Monday.
Director General of Police (DGP) K. Ramachandra Rao, stepfather of Ranya Rao who was arrested by the Directorate of Revenue Intelligence (DRI) for trying to smuggle 14.2 kg of gold, was questioned by the State government-appointed inquiry committee led by Additional Chief Secretary Gaurav Gupta on Monday evening.
India's goods trade deficit hits 42-month low at $14.05 billion in February 2025, with gold, silver, and crude imports decreasing.
Madras High Court rules Labour Courts cannot reject disputes based on Central amendment's limitation period, favoring State amendment.
Author Vidya Varadarajan talks about her latest children’s books — the AKA Detective Series
The ongoing overhead electrification project in the Thiruthuraipoondi-Agasthiyampalli broad gauge section is planned for completion by this month
Former Tamil Nadu Chief Secretary V. Irai Anbu receives Rajasthani-Tamil Seva Award 2025 for public service, honoring exceptional contributions.
Health Minister announces plans for new village health clinics and PHCs to improve healthcare accessibility and infrastructure.
AIADMK's Edappadi K. Palaniswami addresses reported differences within party, asserts unity and strength against opposition.