Can RS15,000 Crore Save Visvesvaraya Steel?

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

The historic factory was established under Mysuru Maharaja Nalvadi Krishnaraja Wadiyar and Bharat Ratna Sir M Visvesvaraya. Kumaraswamy expressed confidence that the glory days of the factory would be restored. It was once a source of employment for thousands.

“Prime Minister Narendra Modi has entrusted me with crucial responsibilities in the areas of heavy industries and steel. I am working diligently to ensure that these responsibilities benefit Karnataka,” Kumaraswamy said.

VISVESVARAYA IRON AND STEEL FACTORY

As a result of the vision of Sir M. Visvesvaraya, the Dewan of Mysore, the plant was established in 1918 as Mysore Wood Distillation & Iron Works. In 1962, the company was finally converted into a private limited company and was renamed Visvesvaraya Iron & Steel Limited on February 16, 1976 after its famous founder.

The plant began as a wood distillation plant in 1918, but was gradually converted to pig iron production in 1923. Mild steel production began in 1936 and was named Mysore Iron & Steel Works later that year. Finally, the production of ferroalloys was switched to, steel production was expanded, an electric arc furnace and a raw and heavy section rolling mill were added.

The Visvesvaraya plant and community are surrounded on three sides by the Bhadra river. The Visvesvaraya Iron & Steel (VISL) plant covers an area of ​​around 3.8 square kilometers.