A team from Singareni Collieries Company Limited (SCCL) visited Visakhapatnam Steel Plant (VSP) to focus on coal linkage from its Talcher Coalfield. The team of three directors and two general managers interacted with VSP directors of the commercial, finance and operations wings on the first day, followed by a visit to the plant on the second day. The SCCL team did not show any sign of making huge investments during its interaction with the VSP officials. Further information on providing working capital would be known after the SCCL board takes a decision after discussing with the shareholders which apparently is the state government.
The VSP will give semi steel blooms to whoever provides one or all three components of coal, iron ore and working capital. The same could be converted into fine steel depending on the requirements of the end users. The finer points of what transpired between the two sides have been given to the unions. The VSP unions agreed that they will agree to SCCL entry, provided it comes as a 100 per cent government company. The VSP unions did not allow POSCO entry, as it could have led to taking over of the VSP.
