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Mainstream, VOL LVIII No 44, New Delhi, October 17, 2020

AITUC condemns Government decision to demerge Nagarnar Steel Plant from NMDC and then to sell it - Press Release, Oct. 16, 2020

Saturday 17 October 2020

All India Trade Union Congress (AITUC)
AITUC Bhawan
35-36, D.D.U. Marg, Rouse Avenue,
New Delhi-110002

16th October, 2020

National Mineral Development Corporation (NMDC) had acquired 1980 acres of tribal land in Bastar district of Chhattisgarh and was setting up an integrated steel plant named NAGARNAR Steel Plant (NSP) at a cost of Rs.23000 Cr, mostly out of its own funds. It was to produce 3 Mt of steel per year.

Now the Modi Government, in its rush to hand over all PSUs to their cronies, has decided to demerge NSP from NMDC and then to completely sell it by September, 2021. The reason trotted out is that ‘the shareholders will have transparent view of the working of both the entities’, which will fool nobody. The Government is cheating the tribals and local people of their land by first acquiring it allegedly for a PSU and promise of employment in a public sector establishment, and now handing it over to their cronies. Ever since the word about the Government’s intentions spread, there have been continuous active opposition by all strata of people and their orgainsations including the tribals, workers, unions and elected representatives. The move is opposed even by the Chief Minister of Chhattisgarh, Shri Bhupesh Baghel.

AITUC Secretariat

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