The Union Minister of State for Steel and Rural Development, Faggan Singh Kulaste, has announced that the Centre will focus on strengthening the Visakhapatnam Steel Plant (VSP) rather than privatizing it at the moment. The minister, who was in Vizag today, made the announcement. Kulaste stated that measures would be taken to strengthen Rashtriya Ispat Nigam Limited (RINL), the entity that operates the Vizag Steel Plant. As a part of the strengthening exercise, new wings will be set up in RINL. Additionally, the minister also plans to address the issue of captive mines.

The move comes as a relief to the employees and stakeholders of VSP, who have been concerned about the possibility of privatization. VSP is one of the largest steel plants in the country, and its privatization has been a topic of discussion for some time now. However, the move has faced strong opposition from the employees and various political parties.

The announcement by Kulaste is being seen as a positive step by the employees and stakeholders of VSP. The move to strengthen RINL will improve its performance further and secure thousands of employees' jobs. The announcement is also significant as it comes at a time when the steel sector in the country is witnessing strong growth. The government's focus on infrastructure development has led to an increase in demand for steel, which has resulted in a surge in production by steel companies. The move to strengthen RINL is expected to further boost the sector and help India become a major steel-producing country.