Prestigious Bhadravati steel factory set up by Mysore Wodeyar closed: Official information from Central Govt

The central government has officially announced that Visvesvaraya Iron and Steel Limited (VISL) at Bhadravati is being closed down due to unavailability of iron ore, high cost and low production due to obsolete technology.

Speaking in the Lok Sabha, Union Finance Department Assistant Minister Bhagwat Karad gave an official statement that it has been decided to close the Bhadravati Visvesvaraya Iron and Steel Factory. Along with this, the struggle of thousands of factory workers and various organizations to save the factory has been futile.

Karad told the Lok Sabha that although some companies were interested in purchasing the Bhadravati factory, they hesitated to invest due to the current conditions of the factory. None of them applied for EOI. So, he explained that it is imperative for the government to close down the factory.

Even those who submitted bids are not coming to buy the factory. State-owned VISL, which employed 12,000 people, has now shut down. The machines in the factory are outdated, the mill is closed. The central government has informed in the Lok Sabha that the factory is in constant loss. Union Minister of State for Finance Bhagwat Karad has given a statement in this regard.