Mecon Limited, a private consultancy firm appointed by SAIL had recommended to invest Rs 4,500 crore to modernise VISL. During his visit to VISL in Bhadravati on Saturday, the minister said that the amount will be pumped in phases to rejuvenate the PSU, which caters to the needs of strategic sectors like defence, atomic energy, aviation and railways.
Captive mines will be provided for Kudremukh Iron Ore Company Limited (KIOCL) and VISL. Chief Minister has agreed to allot mines for KIOCL and VISL in Ramadurga range near Sandur. He said that CM had agreed to sanction 245 hectares of land in Ramadurga range near Sandur for VISL, as captive mine. The issue will be discussed with Union Minister for Steel Veerabhadra Singh, seeking clearance. Final report of the expert committee on the issue is awaited.
Published 24 October 2009, 18:31 IST