Auto Updates: Mahindra XUV 3XO became popular as soon as it was launched!

RINL Per Day Loss:  According to media reports, after the strike, coking coal and limestone worth Rs 700 crore are stuck at the port under the control of Adani. RINL wrote that the port firm has already been written to make arrangements for the immediate removal of coal and limestone lying in the AGPL yard. 

Adani Port Labor Strike: Public sector company Rashtriya Ispat Nigam Limited (RINL) is incurring a loss of Rs 40 to 50 crore every day. Due to the protest by workers at Adani's Gangavaram Port (Andhra Pradesh), the government company is facing losses. This information was given by RINL in a letter written to the Adani Group company Adani Port. RINL Chairman and MD Atul Bhatt wrote in a letter sent on May 5 that due to the non-availability of required coking coal, the company is incurring a loss of Rs 40-50 crore every day. Machines being shut down for a long time are also causing losses.

Coking coal and limestone worth Rs 700 crore stuck

According to the news published in Moneycontrol, after the workers' strike which started on April 12, the supply of coking coal required for making steel has been disrupted. According to media reports, after the strike, coking coal and limestone worth Rs 700 crore are stuck at the port under the control of Adani. RINL wrote that the port firm has already been written to make arrangements for the immediate removal of coal and limestone lying in the AGPL yard. But no response was given from AGPL.

This equipment worth more than Rs 16,000 crore will get damaged.

Due to the non-supply of coking coal, the steel-making company is facing a lot of problems. Along with the damage to the machines, the financial condition of the company is also being affected. According to the statement issued by RINL, Atul Bhatt also mentioned this in the letter sent to the DM of Vizag district. Andhra Pradesh High Court has ordered AGPL to transport the coal to RINL through a conveyor belt or any other means. It was said by RINL that if such conditions continue for a few more days, equipment worth more than Rs 16,000 crore will get damaged.

The strike will also affect the future of 30,000 employees. AGPL will have to take responsibility for this entire loss. Let us tell you that this steel plant has 5 chambers for burning coal and 3 furnaces for melting iron. Due to disruption in coal supply, only one of these 3 furnaces is operational. 

Why did the workers go on strike?

The reason for the strike is the rift between the fishermen and Adani's Gangavaram Port management. This rift happened because the fishermen were demanding higher salaries. Let us tell you that in 2021, Adani had acquired this port. During this period, the land of these fishermen was also given to the port. After this, he was given work at the port itself. But now they demand that they should be given more salary.

Adani Ports purchased a 58.1 percent stake in Gangavaram Port from the DVS Raju family for Rs 3604 crore in March 2021. After this, he developed this port. This caused problems for the fishermen there. But some people were given jobs at the port itself. According to reports, workers are demanding higher salaries and pensions. However, due to non-acceptance of their demands from the management, they are on strike. Through this port, India's trade gets connected to the big markets of the Asia-Pacific region, such as China, Japan, South Korea, and ASEAN countries.