The government has announced a substantial investment of Rs 15,000 crore to restore the historic Sir M Visvesvaraya Iron and Steel Factory (VISL) in Bhadravati, Karnataka, to its former glory. The decision was revealed by Union Minister for Heavy Industries and Steel HD Kumaraswamy during his speech at the 87th All India Kannada Literary Conference in Mandya on Sunday.
This investment initiative is part of the government’s broader focus on fostering industrial growth and generating employment in Karnataka. Kumaraswamy expressed his confidence that the factory, once a significant source of employment, would return to its prosperous days through this revitalization effort. The Visvesvaraya Iron & Steel Factory was established in 1918 under the visionary leadership of Mysuru Maharaja Nalvadi Krishnaraja Wadiyar and the renowned engineer Sir M Visvesvaraya. Initially founded as “Mysore Wood Distillation & Iron Works,” the factory gradually evolved, becoming a producer of pig iron in 1923 and later venturing into mild steel production in 1936. It was renamed Visvesvaraya Iron & Steel Limited in 1976, honoring its illustrious founder.
The plant, located on the banks of the Bhadra River, spans approximately 3.8 square kilometers and has a rich history of innovation and industrial development. Over the decades, it expanded its operations to include ferro-alloy production, electric arc furnaces, and a blooming and heavy section mill. The factory once played a central role in the region’s industrial landscape and employed thousands. Kumaraswamy highlighted that Prime Minister Narendra Modi had entrusted him with significant responsibilities related to the Heavy Industries and Steel portfolios. He emphasized that his efforts were focused on ensuring that the revival of VISL would benefit the people of Karnataka.
This major investment plan aims to modernize and upgrade the infrastructure of the Visvesvaraya Iron & Steel Factory, revitalizing the legacy of Sir M Visvesvaraya and restoring the factory’s prominence in the region. The revival is expected to create new employment opportunities and stimulate economic growth, especially in the steel and manufacturing sectors. As India moves forward with its industrial and economic ambitions, the revival of such historic factories is seen as a crucial step toward building a more resilient and sustainable steel industry while preserving the rich heritage of the country’s industrial pioneers.
