The federal government will pump in Rs 15,000 crore to revive the historic Sir M Visvesvaraya Iron and Metal Manufacturing unit in Bhadravati in Karnataka. The plans had been confirmed by Union Minister for Heavy Industries and Metal HD Kumaraswamy.
The choice emerges from the deal with industrial and employment progress within the state, mentioned Kumaraswamy, talking on the 87th All India Kannada Literary Convention in Mandya on Sunday.
The historic manufacturing facility was established underneath Mysuru Maharaja Nalvadi Krishnaraja Wadiyar and Bharat Ratna Sir M Visvesvaraya. Kumaraswamy expressed confidence that the wonderful days of the manufacturing facility can be restored. It was as soon as a supply of employment for 1000’s.
“Prime Minister Narendra Modi has entrusted me with the essential obligations of the Heavy Industries and Metal portfolios. I’m working diligently to make sure these obligations profit Karnataka,” mentioned Kumaraswamy.
VISVESVARAYA IRON AND STEEL FACTORY
The results of the imaginative and prescient of Sir M Visvesvaraya who was the Dewan of Mysore, the plant was arrange in 1918 as ‘Mysore Wooden Distillation & Iron Works’. It will definitely turned a restricted firm in 1962, and was renamed Visvesvaraya Iron & Metal Restricted on February 16, 1976 after its illustrious founder.
The plant had began as a wooden distillation plant in 1918, however steadily moved to pig iron manufacturing in 1923. It began gentle metal manufacturing in 1936, and was later within the 12 months named Mysore Iron & Metal Works. It will definitely moved to manufacturing of ferro-alloys, expanded its metal manufacturing, added electrical arc furnace, and a blooming and heavy part mill.
The Visvesvaraya plant and township are surrounded by the Bhadra river on three sides. The Visvesvaraya Iron & Metal (VISL) plant covers an space of round 3.8 sq km.