Visveswaraya Iron & Steel Plant To Be Revived
At present with 245 regular employees are on the roll in VISP
The Government accorded ‘in principle’ approval for strategic disinvestment of Visveswaraya Iron & Steel Plant (VISP) in October 2016. Subsequently, due to inability expressed by the shortlisted bidders to participate further in the transaction for Strategic Disinvestment, the Competent Authority had approved annulment of Expression of Interest (EOI) for disinvestment and has directed for initiation of process for closure of Visveswaraya Iron & Steel Plant, Bhadravati, as communicated by Department of Investment and Public Asset Management (DIPAM) on 14/10/2022, which was conveyed to the SAIL on 31/10/2022.
At present with 245 regular employees are on the roll in VISP. Various Finishing Facilities such as Mills and Forge shop are in operation, and with the semi-finished steel supplied by sister plants/units of SAIL as per requirement, VISP has produced 13000 tonnes of saleable steel in the year 2023-24.
This information was given by the Union Minister of State for Steel and Heavy Industries Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.
