MP calls for collective push to revive Visakhapatnam Steel Plant

MP M. Sribharat urges collective efforts to revive Visakhapatnam Steel Plant, highlighting key reforms for crucial recovery and growth.

Collective efforts are essential for the revival of the Visakhapatnam Steel Plant, and the next two years will be critical for its recovery and growth, according to Visakhapatnam MP M. Sribharat.

Mr. Sribharat met Union Minister for Steel H. D. Kumaraswamy and Union Minister of State for Steel and Heavy Industries Bhupathi Raju Srinivasa Varma during their visit to the plant, and held detailed discussions on several key issues concerning its functioning.

He presented his views on operational performance, market conditions, workforce management and local concerns. He observed that, given the present favourable market conditions, steps should be taken to prevent underpricing in the future.

He emphasised the need for a comprehensive assessment of the profitability of semi-finished products and suggested reconsidering production volumes if they are not yielding adequate returns. He recommended holding high-level discussions with banks to reduce the interest burden and noted that the plant has been moving towards a cash-positive position over the past three months.

Highlighting the importance of effective human resource management, Mr. Sribharat stressed that the right person should be placed in the right role and called for the appointment of experienced personnel in key departments. He suggested reviewing whether workforce reduction through VRS and other measures had been carried out scientifically and in a department-wise manner.

He appreciated the decision to reduce dependence on third-party agencies and called for a detailed report on the benefits achieved through this restructuring. He also underlined the need to address ageing machinery through timely repairs and modernisation with adequate investment.