Central Government Allocates Revival Package for Vizag Steel Plant
The central government has officially announced a significant ₹11,440 crore financial package for the revival of the Visakhapatnam Steel Plant. This decision follows the discussions held during the Union Cabinet meeting yesterday. Union Minister Ashwini Vaishnaw made the announcement today, stating that the Cabinet has granted unconditional approval for the package aimed at revitalizing the steel plant.
Union Minister Ram Mohan Naidu Welcomes the Decision
Union Minister Ram Mohan Naidu expressed gratitude towards Prime Minister Narendra Modi and the central government for the allocation of the package. He welcomed the decision, emphasizing its potential to strengthen the steel plant’s operations.
Of the announced amount, ₹10,300 crore has been allocated under a revival package to help the plant overcome its financial losses. Ram Mohan Naidu stated that this measure is expected to play a critical role in restoring the plant to full production capacity and steering it towards profitability.
A Boost to Andhra Pradesh's Development
Minister Ram Mohan Naidu further highlighted that this package exemplifies the central government’s commitment to the development of Andhra Pradesh and addressing the aspirations of its people. He expressed optimism that the financial boost would help the steel plant regain its operational efficiency and contribute significantly to the region’s economic progress.
Union Minister Ram Mohan Naidu Welcomes the Decision
Union Minister Ram Mohan Naidu expressed gratitude towards Prime Minister Narendra Modi and the central government for the allocation of the package. He welcomed the decision, emphasizing its potential to strengthen the steel plant’s operations.
Of the announced amount, ₹10,300 crore has been allocated under a revival package to help the plant overcome its financial losses. Ram Mohan Naidu stated that this measure is expected to play a critical role in restoring the plant to full production capacity and steering it towards profitability.
A Boost to Andhra Pradesh's Development
Minister Ram Mohan Naidu further highlighted that this package exemplifies the central government’s commitment to the development of Andhra Pradesh and addressing the aspirations of its people. He expressed optimism that the financial boost would help the steel plant regain its operational efficiency and contribute significantly to the region’s economic progress.