Union Minister Shri HD Kumaraswamy has announced INR 5,000 crore Phase-1 revival plan for Visvesvaraya Iron & Steel Plant (VISP), in Bhadravathi, Karnataka, strengthening India’s steel and manufacturing ecosystem.
Jan 27, 2025
Union Minister of Steel and Heavy Industries and Steel Authority of India Limited Shri HD Kumaraswamy has announced INR 5,000 crore Phase-1 revival plan for Visvesvaraya Iron & Steel Plant (VISP), Bhadravathi, Karnataka, which is a strategically important step for India’s steel and manufacturing ecosystem.
The VISP revival strengthens the manufacturing footprint of steel production in South India, enhancing the region’s steel capacity and reducing logistics inefficiencies, freight costs, and improving responsiveness to local market requirements. Drawing from successful PSU turnarounds such as Visakhapatnam Steel Plant, this initiative reinforces confidence in structured revival rather than asset replacement.
”At Shree International Vyapar Private Limited (SIVPL), we strongly believe that strengthening PSU steel assets like VISP contributes to a resilient, competitive, and self-reliant steel ecosystem—supporting downstream industries, employment generation, and long-term industrial stability,” posts the company on its social media handle.
Also Read: ISSDA Calls for Protective Measures for Indian Stainless Steel producers Amid FTA With EU
The company added that as India moves towards its 300 MT steel capacity vision, a balanced mix of PSU and private participation, greenfield expansion and brownfield revival, and regional capacity diversification will be essential for sustainable growth.
