Rs 15,000 crore will be pumped in to revive the historic Visvesvaraya Iron and Steel Plant in Bhadravati.

The government will pump in Rs 15,000 crore to revive the historic Sir M Visvesvaraya Iron and Steel Plant at Bhadravati in Karnataka. Union Minister for Heavy Industries and Steel HD Kumaraswamy confirmed the plans.

Speaking at the 87th All India Kannada Literary Conference in Mandya on Sunday, Kumaraswamy said the decision stems from a focus on industrial growth and employment in the state.

The historic factory was established during the reign of Mysuru Maharaja Nalvadi Krishnaraja Wadiyar and Bharat Ratna Sir M. Visvesvaraya. Kumaraswamy expressed confidence in bringing back the glory days of the factory. It was once a source of employment for thousands.

“Prime Minister Narendra Modi has entrusted me with critical responsibilities for the heavy industries and steel portfolios. I am working hard to ensure that these responsibilities benefit Karnataka,” Kumaraswamy said.

Visvesvaraya Iron and Steel Plant

As a result of the vision of Sir M Visvesvaraya who was Diwan of Mysore, the factory was established in 1918 as “Mysore Wood Distillery Iron Works”. It eventually became a limited company in 1962, and was renamed Visvesvaraya Iron & Steel Limited on 16 February 1976 after its illustrious founder.

The plant began as a wood distillery in 1918, but gradually moved into pig iron production in 1923. Mild steel production began in 1936, and later in the year was renamed Mysore Iron & Steel Works. It eventually moved into ferroalloy production, expanded its steel production, and added an electric arc furnace, a heavy and flowering mill.

The factory and town of Visvesvaraya are surrounded by the Bhadra River on three sides. Visvesvaraya Iron and Steel Plant (VISL) covers an area of ​​about 3.8 sq km.