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.

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