Telugu Desam Party bureau member Mr K Yerran Naidu said the future of Visakhapatnam Steel Plant would not be bright unless the UPA Government sanctioned captive mines.

Mr Naidu while addressing the ‘Karmika Mahanadu' at Ukkunagaram on the occasion of 20 anniversary of Steel TNTUC said that the UPA government had ignored the genuine demands of VSP India's first shore based public sector steel plant while granting mines for Brahmani Steel. He said the private sector steel plant was yet to set up its plant in Kadapa.

The TDP leader said VSP had earned profit in the Q1 and incurred losses in the Q2 due to increase in raw material cost by 25 %. He claimed credit saying the TDP was responsible for stopping privatization of VSP during NDA regime. He felt that the leaders from the state should bring pressure on the centre to expedite granting captive mines.

(Sourced from The Hindu)