The government of the southern Indian state of Karnataka has approved a policy according to which the export of iron ore through non-major ports in the region will resume in 15 years, the government said in a statement on Friday, November 28.
The Indian Ministry of Steel has prepared detailed Project Reports (DPR) for the revival of the defunct Visvesvaraya Iron steel mill. & Steel Limited (VISL) in the southern state of Karnataka, which will entail an investment of $448 million, Steel Minister H. D. Kumaraswamy said in a statement on Monday, December 1.Indian state-owned steel producer Steel Authority of India Limited (SAIL) will make investments to revive the VISL plant and keep it operational for the next 50 years. The plant will start production based on demand from the railway and defense sectors. Two DPR units have been prepared for market development and the study of new technologies," he said.
"Work is underway to obtain the captured mine for the plant. I will give you full information about the revival plan in January," he said.
The vanished VISL mill was founded in 1923 and produced high-quality specialty and alloy steel products. The process of its closure began in 2023 due to the high cost of production and outdated technology.
