Government approves revival of VISL Visveswaraya Iron and Steel Plant
The Government approved ‘in principle’ the strategic disinvestment of Visveswaraya Iron & Steel Plant (VISP) in October 2016.
The Government approved ‘in principle’ the strategic disinvestment of Visveswaraya Iron & Steel Plant (VISP) in October 2016.
Subsequently, due to the inability expressed by the shortlisted bidders to participate further in the transaction for Strategic Disinvestment, the Competent Authority approved the annulment of Expression of Interest (EOI) for the disinvestment and has directed the initiation of the 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.
Read Also : ONGC releases statement on incident happened at Uran plant in MaharashtraAt present 245 regular employees are on the roll in VISP. Various Finishing Facilities such as Mills and Forge shops 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.
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