The government will spend Rs 15,000 crore to revive the historic Sir M. Visvesvaraya steel plant in Bhadravati, Karnataka. The plan was confirmed by Union Heavy Industries Minister and Steel HD’s Kumaraswamy.
Speaking at the 87th All India Kannada Literature Conference in Mandya on Sunday, Kumaraswamy said the decision came out of focus on industrial and employment growth in the state.
This historic factory was established under Mysuru Maharaja Nalvadi Krishnaraja Wadiyar and Bharat Ratna Sir M Visvesvaraya. Kumaraswamy expressed confidence that the factory’s glorious days will be restored. It was once a source of employment for thousands of people.
“Prime Minister Narendra Modi has entrusted me with important responsibilities of the heavy industry and steel portfolio. I am working diligently to ensure that these responsibilities benefit Karnataka,” Kumaraswamy said.
Vishvesvaraya Steel Plant
As a result of the vision of Sir M Visvesvaraya, the Dewan of Mysore, the factory was established in 1918 as ‘Mysore Wood Distillery and Iron Works’. The company eventually became a limited company in 1962 and was renamed Visvesvaraya Iron & Steel Limited on February 16, 1976, after its illustrious founder.
The mill started out as a wood distillery in 1918, but gradually transitioned to producing pig iron in 1923. It started producing mild steel in 1936 and was named Mysore Steel Works later that year. The company eventually transitioned to producing ferroalloys and expanded its steel production, adding an electric furnace and heavy blooming mill.
The Visvesvaraya factory and town is surrounded by the Bhadra river on three sides. The Visvesvaraya Steel (VISL) plant covers an area of approximately 3.8 sq km.
