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AP steel units driven to closure by FSA

Hyderabad, Dec 12, 2012, DHNS:
More than 200 steel and Ferro alloy industries in Andhra Pradesh have threatened to close down their units by month-end if the state government does not scrap the astronomical Fuel Surcharge Adjustment (FSA) slapped on them in retrospect.

The industries have paid an additional Rs 250 crore along with the regular power bill for the quarter beginning this April.

“First we had input problem with Gali Janardhana Reddy issue, then power holiday and now the FSA. In the past 16 months steel industry in AP faced numerous problems.

Most of the units haven’t paid the power bill which was due on December 10. We don’t have money to pay that bill,” Suresh Kumar Singhal, AIIFA Southern Region, said. Steel industry in Andhra Pradesh provides direct employment to over one lakh people.

 

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