JD Lakshmi Narayana Bids For Vizag Steel Plant

In the privatization of Vizag steel plant (VSP), the first step has moved ahead. The Express of Interest (EoI) bid was concluded at 3 PM on Saturday and as per the sources the response was completely unexpected.

According to media reports, 22 bidders have filed EoI and there are some big names too in this list. It is unclear whether Singareni Collieries have filed their EoI but former CBI Joint Director VV Lakshmi Narayana has registered in EoI.

“The Vizag steel plant should be preserved and so I have filed the EoI. I will turn this project into a crowdfunding one and make people part of this project. The maintenance of this project requires Rs 850 crore per month and if people from both the Telugu states contribute Rs 100 each, Vizag steel plant can be saved from private companies. I will collect donations from the entrance gate of the steel plant,” said Lakshmi Narayana.

Lakshmi Narayana registered his EoI in a sealed cover which means he has many details running the steel plant and its day-to-day operations. In a channel interview he stated that he can handle the operations of the steel plant efficiently in a span of five months time.

Before registering in EoI, Lakshmi Narayana participated in a Paadayatra hosted by Visakha Ukku Porata committee.