India’s SAIL reportedly approves closure of subsidiary VISP mill

Monday, 23 January 2023 11:02:54 (GMT+3)   |   Kolkata
       

Indian state-run steel producer Steel Authority of India Limited (SAIL) is believed to have approved the closure of its subsidiary Visvesvaraya Iron and Steel Plant (VISP), SteelOrbis has learned from industry and political circles on Monday, January 23.

The board of directors of SAIL has approved the closure of VISP mill located in the southern Indian state of Karnataka after several attempts to privatize the asset failed, industry sources said, although no official statement on te closure of the mill has yet been made by SAIL.

Several top political leaders including former Indian prime minister Dewe Gowda have written to Indian prime minister Narendra Modi seeking his intervention in preventing SAIL for closing down VISP as it will impact 20,000 families dependent on the operation of the unit.

The 105-year old VISP which operates two blast furnaces with 216,000 mt crude steel production capacity was merged with SAIL in 1988.

“We got the information on the closure of VISP on January 18 from a senior director of SAIL who confirmed that closure of the plant has been approved,” VISP Wokers’ Association president J Jagdish said in a statement.


Similar articles

SAIL to commence production of weather-resistant steel for shipping containers

24 Jan | Steel News

Indian government-run mills target above $600/mt FOB in new billet tenders

17 Jan | Longs and Billet

Most Indian mills hike flats base prices for Jan, rises in HRC bigger than in CRC

05 Jan | Flats and Slab

India’s SAIL takes early lead in increase flat product base prices

28 Dec | Flats and Slab

India’s SAIL to increase capacity to 33 million mt per year by 2030

20 Dec | Steel News

SAIL’s Rourkela mill produces its thinnest grade of HRC

27 Oct | Steel News

India’s SAIL floats met coke purchase tender

17 Oct | Scrap & Raw Materials

Indian government abandons privatization plans for SAIL subsidiary

13 Oct | Steel News

SAIL’s Rourkela steel mill achieves highest single-day output of ERW pipes

30 Sep | Steel News

India’s steel ministry asks SAIL, Tata Steel to increase use of inland waterways for cheaper logistics

27 Sep | Steel News