Shivamogga Member of Parliament B.Y. Raghavendra has appealed to Union Minister for Heavy Industries and Steel, H.D. Kumaraswamy, to exclude Visvesvaraya Iron and Steel Plant at Bhadravati from disinvestment and consider revival of the plant with the necessary financial support through the Steel Authority of India Limited (SAIL).
Mr. Raghavendra met the Union Minister in Delhi on Tuesday, August 6, and submitted his appeal along with representatives of the VISL employees union.
In his letter, Mr. Raghavendra said the Union government gave in-principle approval for the disinvestment of three units of SAIL, including VISL, in 2016. Despite having an illustrious legacy, the plant encountered many challenges.
The plant possessed 150 acres of iron ore land in Ballary and was ready to operate by 2025. “The plant has potential for revival and growth. The revival of the plant holds immense promise not only for the industrial development of Karnataka, but also for the overall growth of nation’s economy,” he said.
Mr. Raghavendra, in his press release, said the Union Minister responded to the appeal positively.
Published - August 06, 2024 07:27 pm IST
