Hyderabad: In a surprising move, the Telangana government has announced its intention to bid for the Vizag Steel Plant (VSP) in Andhra Pradesh through its coal mining PSU - Singareni Collieries Company Limited (SCCL). The bidding process for VSP involves funding working capital and raw material requirement against the supply of steel, potentially paving the way for the privatization of the government-run steel behemoth in AP. This will mark the first time that a state-run company will place bids to secure a PSU in another state. The Telangana government currently holds a majority stake of 51% in SCCL, giving it considerable decision-making powers, while the Centre owns the remaining 49%. According to reports, Chief Minister K Chandrasekhar Rao has directed a team comprising state and SCCL officials to visit Vizag Steel Plant and devise a blueprint before participating in the bids. The deadline for submitting bids is April 15. Interestingly, the BRS government's decision to bid for the steel plant
