BHADRAVATI: Union Minister of Steel Chaudary Birendra Singh remained non-committal on whether the Centre would privatise Visvesvaraya Iron and Steel Limited (VISL) or pump in investment to revive the plant.
Workers’ unions and others, however, were expecting the minister to take a positive decision regarding the plant ahead of the forthcoming Assembly election.
Singh said a high-level committee will be constituted to study the present situation of the plant and prepare a roadmap for its revival and take a decision regarding investment within two months.
Speaking to reporters after holding a meeting with VISL management, workers’ union and others here on Friday, the minister said that based on the viability report to be given by the team, the ministry will take a decision on whether to invest or not.
Earlier, a study report suggested SAIL to invest a minimum of `1,200 crore to modernise the plant and for total renovation and turn-around of the plant, it would require `3,200 crore.
He said he would direct SAIL to send a high-level team to survey the plant for the second time and draw a roadmap for its revival. It might take one or two months, he said. Later, the ministry will decide on the steps to be taken to revive one of the premier steel plants in the country, he said.
He said the plant was incurring a loss of `100 crore each year owing to lack of captive iron ore mines and modern machines.