About CSR Department
Long before the concept of CSR came into being, VSP has been in the forefront in Social Engineering.
Since 1993 emphasis upon Peripheral development was put and projects were implemented for the same under the Town
Administration department. With the experience of Peripheral development, VSP embarked on the path of CSR after allotment
of requisite budget and fulfilling legal obligations under the Companies Act. The SCOPE CSR Guidelines for CPSEs envisage
budgeting of up to 2% of Profit after Tax from the previous year for CSR activities during the current year, which VSP has
done since creation of CSR department in 2006-07, when CSR Foundation Trust was registered under the Companies Act,1956 and
IT Exemption obtained for CSR.
- Vizag Steel’s endeavor upon Corporate Social Responsibility primarily aims at Socio-Economic development of the poor,
downtrodden and marginalized sections of society and address the necessity to conserve the Environment. Till date, Rs.100
Crores have been provided for CSR activities by VSP.
- The existing CSR practices in VSP are in line with the CSR Guidelines issued by SCOPE.
- VSP is a Member of “United Nations Global Compact” and adheres to the universally accepted ten principles of human
rights, labour, environment and anti-corruption.
- CSR in RINL-VSP is integrated into the Company’s Vision, Mission and Objectives.
- CSR Policy of VSP is focused upon Eight(8) primary areas:
- Environmental Care
- Health Care
- People Care
- Peripheral Development
- Cultural Efflorescence
- Activities as a Responsible Corporate Citizen
- To extend help during natural calamities