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INTUC and CITU Opposing POSCO RINL Proposed Auto Steel JV at Vizag

Steel News - Published on Fri, 17 Jan 2020

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Express News Service reported that trade unions and Left parties are opposing proposal to set up a steel plant by South Korean steelmaker POSCO in a joint venture with Visakhapatnam Steel Plant. Indian National Trade Union Congress leader Mr Mantri Rajasekhar said that all trade unions are opposing the proposal. He said “The steel plant, launched with 1.7 million tonnes capacity, was later expanded to 7.3 million tonnes without any financial support from the Centre. It will be mutually beneficial if a steel plant was set up by Rashtriya Ispat Nigam Limited in partnership with public sector undertakings National Mineral Development Corporation or Steel Authority of India Limited, which have captive iron ore mines.”

Centre for Indian Trade Unions State president Ch Narasinga Rao said that the Centre is planning to sanction land worth INR 45,000 crores to the South Korean giant on a platter. He demanded the state government to clarify its stand on POSCO proposal. He said no private steel plant has been set up in the past 10 years.

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Posted By : Rabi Wangkhem on Fri, 17 Jan 2020
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