Trade Unions raise voice as VSP announces MoU with Jindal

Vizag Steel Plant (VSP) CMD Atul Bhatt informed trade unions about the MoU with Jindal Steel and Power Limited (JSPL) for working capital support. Unions condemned the statement, organizing protests. The arrangement with JSPL will provide Rs 800-900 crore for VSP in working capital or raw materials for Blast Furnace III. Unions raised concerns over losses and demanded to see the MoU. VSP management defended the decision and mentioned ongoing negotiations with Tata and Sail.