The government of India has expedited the process for privatisation of the Vizag steel plant. Before the official process begins, the Centre wants to ensure that all the legal hassles would be cleared during the course. Accordingly the Union Steel Ministry has issued a notification for the appointment of legal advisor and transaction advisor for the privatisation process.
Also the Centre has asked the interested bidders to place a ‘Request for Proposal’ and bidders who apply first would get the opportunity to take complete control of the privatisation process. In another development on July 22nd, a key meeting on how to withdraw hundred percent investments from the steel plant will be held. If the Centre appoints transaction and legal advisors, it’s an official commencement of privatisation.
Learning about this, the employees of Vizag steel plant sat down in a protest. They demanded to take back the privatisation process. Employees JAC leader Ayodhyaram warned that there would be severe consequences if the Centre is adamant and continues to go ahead with privatisation of steel plant.
Except AP BJP, rest of the political parties in AP are against privatisation of Vizag steel plant and there is a huge unrest among employees and people of Vizag.
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