India's government to close Visvesvaraya Iron and Steel Plant
Time:Fri, 03 Mar 2023 09:10:47 +0800
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Due to the very high costs, aging machinery, low output, and lack of self-provided iron ore, Visvesvaraya Iron and Steel Plant (VISP), the wholly owned subsidiary of Steel Authority of India Limited (SAIL), is going to be closed by the Indian government.
In October 2016, the Indian government initially approved the divestment of SAIL's 100% stake in VISP.
The company's 267 employees continue to protest against the closure of the steel mill.
