The Indian government has announced an ambitious plan to restore the Visvesvaraya Iron & Steel Plant (VISP) to its former prominence with an investment of ₹15,000 crore. The initiative is part of a broader effort to revitalize the country’s steel sector and boost domestic production.

Established in 1923 in Bhadravati, Karnataka, VISP has played a crucial role in India’s industrial development. However, in recent years, the plant has faced operational challenges, financial losses, and declining production capacity, prompting the government to intervene with a revival strategy.

According to officials, the proposed investment will focus on modernizing the plant’s infrastructure, upgrading outdated machinery, and enhancing production efficiency. The government also plans to introduce advanced steel-making technologies and sustainable practices to align the plant with global industry standards.

Union Minister for Steel, [Minister’s Name], emphasized the importance of VISP’s revival, stating, “The plant has a rich legacy, and we are committed to restoring it as a major player in India’s steel industry. This investment will not only strengthen the domestic steel sector but also create new employment opportunities for thousands of skilled and unskilled workers.”

The revival project is expected to be executed in multiple phases, with priority given to improving raw material sourcing, optimizing production lines, and ensuring environmental compliance. Experts believe that a fully modernized VISP could significantly contribute to India’s goal of increasing steel output and reducing dependence on imports.

Local industry leaders and workers have welcomed the move, expressing optimism about the plant’s future. “VISP has been a symbol of Karnataka’s industrial heritage. A revival plan of this scale is a positive step for both the economy and employment,” said a senior employee at the facility.

The government is expected to collaborate with private players and international technology partners to execute the project efficiently. If successfully implemented, the initiative could mark a significant turnaround for VISP, reinforcing its position as a key contributor to India’s steel production landscape.