Government to invest Rs 1,000 crore in reviving SAIL's VISL plant

KOLKATA: The government intends to revive Steel Authority of India's VISL plant by investing Rs 1,000 crore in modernising and expanding its capacity. This was announced by the union minister for steel & mines, Narendra Singh Tomar. during his maiden visit to Visvesvaraya Iron & Steel Plant on Friday. The investment will be subject to recommendations of consultants and approval by the SAILBSE board.

"The ministry is trying to ensure availability of raw material to VISL and once that is done, the government intends to revive VISL by modernization and expansion of its facilities with an investment of Rs 1,000 crore. However, this investment will be subject to recommendations of the consultant and approval by SAIL board. We shall try to expedite the whole process.," Tomar said in his address.

For raw material security, steps will be taken by the state govt. to allot 140 hectares in Bellary district to VISL, as soon as the case pending in High Court is settled. "I have held two meetings with Chief Minister of Karnataka and raised the issue of allotment of mines, including 240 hectares of iron ore mines, in the Ramanadurga area to SAIL, VISL for iron ore security. The CM assured to actively consider the matter on priority basis," the minister added.

V.I.S.L, established by M. Visvesvaraya, started operations in 1923. The plant is a pioneer in the production of alloy & special steels. It has a wide customer base which includes defence, railways, automobile, engineering sector and the tool making industry.

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