Rs 15,000 cr to be pumped to revive historic Visvesvaraya Iron & Steel Factory in Bhadravati

The government will invest Rs 15,000 crore to rehabilitate the historic Sir M Visvesvaraya Iron and Steel Plant in Bhadravathi, the plans have been approved by Heavy Industries and Steel Minister Kumaraswamy.

The decision stems from the focus on growth of industry and employment in the state, Kumaraswamy said while addressing the 87th All India Kannada Literary Conference in Mandya on Sunday.

The historic factory was established during the reign of Mysuru Maharaja Nalwadi Krishnaraja Wadiyar and Bharat Ratna Sir M Visweswaraya.Kumaraswamy expressed confidence that the glory days of the factory will be restored. It was once a source of employment for thousands.

“Prime Minister Narendra Modi has entrusted me with the important portfolios of Heavy Industries and Steel. I am working hard to ensure that these responsibilities benefit Karnataka,” Kumaraswamy said.

VISVESVARAYA IRON AND STEEL PLANT

The result of the vision of Sir M Visvesvaraya, who was the Dewan of Mysore, the plant was established in 1918 as Mysore Wood Distillation & Iron Works. by name

The plant started as a wood distillery in 1918 but gradually switched to the production of pig iron in 1936 and later in the year it was named Mysore Iron & Steel Works its steel production, added an electric arc furnace and a thriving and heavy section plant.

The Visvesvaraya Iron & Steel (VISL) plant is surrounded on three sides by the Bhadra River.