KTR accuses Centre of conspiring to privatise Visakha Steel Plant

Hyderabad: Minister KTR has accused the Central Government of conspiring to privatize Visakha Steel during a media briefing on Tuesday. He emphasized the need to protect public sector organizations and voiced concerns that employees would be negatively impacted if these enterprises were sold. Moreover, the Minister criticized the Central Government for handing over all insurance schemes to LIC and argued that such actions reveal the Government's attempt to shift losses to the public and transfer profits to private parties. Regarding the Bayyaram Steel Factory, KTR explained that the Centre had promised to set up Steel Factories in Bayyaram and Kadapa. Despite meeting with Prime Minister Narendra Modi many times, the Bayyaram Steel Factory remains incomplete, and KTR expressed his frustration with the lack of progress since 2014. Furthermore, KTR alleged that the Adani Group established the Bailadilla Iron Ore Company in September 2018, with plans to move iron ore from Bailadilla to Mundra in Gujarat. The Minister criticized the privatization of Visakha Steel Plant, arguing that the plant was pushed into losses and that it is being sold only for Adani's benefit. He further claimed that the eyes of Adani and central officials have fallen on Bailadilla mines, and it is the Prime Minister's policy to sell them cheaply to his friends by showing losses.