This small little change may pave way for VSP privatisation


One insignificant bit of single column news in newspapers that most readers tend to overlook is now creating quite a sensation in the Vizag Steel Plant circle. In what is being seen as a very firm move to privatise the VSP, the Central Government has appointed Atul Bhat as the chairman and the managing director of the plant. Bhat is a known hand in mergers, acquisition and share-offloading and this is being touted as the most decisive move to privatise the plant.

Atul Bhat replaces RK Rath, whose tenure expired recently, Atul Bhat would be in the position of the CMD till November 30, 2024. Bhat is known for preparing the Strategic Management Plan 2025 and played a key role in the merger and takeover of several firms. Many experts in the field say that Modi has appointed the right man for the right job and that Bhat would complete the total privatisation of the VSP. He is known to accomplish the task given to him come what may.

Those in the know say that Bhat began his career with the tata Steels and then moved to the Mittals in UK and the general manager. He played a key role in the mergers of the Mittals in Iran and several other countries. Now as the CMD of the Vizag, he is expected to complete the task given to him. Sources say that he would use all the tricks in the trade to privatise the unit.

Meanwhile, the agitation against the privatisation too appears to have lost its steam. The political parties are now gradually moving away from the agitation. It is now left for the employees unions alone to fight it out. But sources say that several employees on the verge of retirement are already negotiating with the management behind the curtains to get the best possible package for themselves. Given all these, Bhat may have a smooth sailing, according to the sources.

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