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Our Bureau

Hyderabad , June 4

THE Andhra Pradesh Government has expressed opposition to the proposal of merging the Visakhapatnam Steel Plant (VSP) with Steel Authority of India Ltd (SAIL).

The Chief Minister, Dr Y. S. Rajasekhara Reddy, has urged the Centre to retain VSP as a separate entity. In a communication, he highlighted the concerns of the State and asked the Union Government to withdraw the merger proposal.

The State Government has also deputed Mr Mohan Kanda, Chief Secretary, to convince the Union Government officials in this regard. Any merger will affect the overall development of the region and Andhra Pradesh.

There is a favourable atmosphere for investments and industrial promotions in the State. Several agencies of national and international repute have evinced a keen interest in investing in the State. "For the first time in the last 25 years of VSP, a technocrat belonging to AP is heading it and under his leadership, it is incurring good profits and performing well," an official press release said.

VSP, which was incurring losses till recent times, is a cash-rich company at present and the majority of its employees are from Andhra Pradesh.

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