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Union Minister for Steel and Heavy Industries HD Kumaraswamy said the Vizag steel mill will not be privatised.
Declaring that the plant is a vital source of livelihood for a large number of people, the central government bears the responsibility to safeguard it. He also expressed confidence that the plant will realise its maximum potential and help India's GDP develop with the backing of Prime Minister Narendra Modi.
Steelworkers' unions have been demonstrating against the planned privatisation of VSP for the last three years.
The plant's production has been lowered due to financial difficulties. It is seeking a working capital of ₹3,110 crore from the federal government, as well as three years of tax respite and an assured supply of raw materials.
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