Thanks to ‘NDA’ Doctors, Vizag Steel Plant Is Out of ICU

A Parliamentary Committee Report suggests that the financial position of the Vizag Steel Plant eased a little bit.

It is known to our readers that the Central Government announced a Special Package of 11,440 Crore to the Steep Plant.

In three trenches, 9,004 Crore of this amount has been already released. The fourth installment of 796 Crore is yet to be released. And as a result, the liabilities of the Steel Plant decreased by 5,095 Crores this year.

The Net Worth of the Project is -6841 Crore in September 2024 and the net worth by September 2025 has become positive and is at 2418 Crore.

However, the Project is still far from being in the Safe Zone as its bank loans alone are around 12,321 Crore even now. The Central Government has also allowed monetizing its lands to get funds.

The condition will get better once the second phase production also begins in the Steel Plant. But that is pending the approval of the Cabinet Committee of Financial Affairs.

The Modi government had finalized the privatization of the steel plant long ago. However, the process was halted mainly due to political issues.

The decision was further delayed as the government became dependent on the TDP’s numbers after the recent elections. TDP could not allow the privatization to happen because the steel plant is a highly sensitive sentiment, particularly in the Uttarandhra region.

If the BJP had been in a stronger position on its own, the steel plant might have been privatized long ago.

In conclusion, the NDA alliance formula, involving key leaders like Narendra Modi, Chandrababu Naidu, and Pawan Kalyan, has breathed new life into the Vizag Steel Plant, which is now out of the ICU.