₹11,000-Crore Package Powers Financial Turnaround at Visakhapatnam Steel Plant

In a major development, Visakhapatnam Steel Plant has successfully shifted from deep losses to profitability, recording a net profit of ₹54 crore as of January 2026, officials said. This remarkable turnaround was highlighted at a high-level review meeting chaired by Andhra Pradesh Chief Minister Nara Chandrababu Naidu at the Secretariat on Wednesday, where the plant’s recent performance and growth trajectory were closely examined.

Officials attending the meeting pointed out that the plant, which had reported losses of ₹486 crore in September 2024, has staged a strong revival following a ₹11,000-crore assistance package from the central government . The review also brought together senior representatives from the Centre, the plant’s management, and the state government to discuss strategies for sustaining and accelerating progress.

During the session, officials outlined how the financial support helped ease liquidity pressures and enabled the plant to improve its operational efficiency . Enhanced capacity utilization and streamlined production processes have bolstered output, while the improved financial performance has strengthened the company’s credit profile in the market.

The Chief Minister praised the collective efforts of management, workers, and government agencies in turning around the plant’s fortunes, noting that such cooperation has yielded tangible results. He urged officials to adopt modern technologies and best practices to further enhance competitiveness and ensure that the plant meets international standards .

State authorities reiterated their commitment to providing full support to the steel plant, underscoring its importance as a strategic industrial asset and a key driver of regional economic growth.