The Minister of State for Mines and Steel, Shri Vishnu Deo Sai has said that the operations in Visakhapatnam Steel Plant was stopped due to Cyclone Hudhud on 12th October, 2014 on account of failure of power supply. The preliminary estimate of impact of physical damage of property, loss of production and consequential loss of profits is about Rs.350 crores. However, provisional claim for damages to property was lodged with the Insurance Company and the claim for loss of profits is being worked out.
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