SAIL has already implemented a 350x350 mm single strand bloom caster with 1,25,000 T annual capacity at an investment of around Rs.80 crore.
Further, one 30T Pusher type Reheating Furnace for Primary Mill costing about Rs.10 crore has also been implemented.
In a written reply in the Lok Sabha today Shri Verma said, SAIL has invited Expression of Interest (EOI) from interested parties willing to enter into a Joint Venture with Steel Authority of India Limited (SAIL) for manufacture of steel and related products at VISP, Bhadravati. Karnataka, India. SAIL, intends to induct a Strategic Alliance Partner (SAP) to form a Joint Venture (JV) Company which shall carry on the business relating to VISP. VISP has been incurring losses for the last few years. In view of the above, feasibility of revival of VISP by induction of a JV partner is being explored for which EoI has been issued.
The Minister said, Letters/Representations have been received from some MPs, MLAs and the unions of employees of VISP, after issuance of the EOI. The concerns raised have been taken note of by the management.
Shri Verma said, the total finished saleable stock of VISP materials as on 01-11-2013 is 31,517 tonnes, of which 30,639 tonnes is lying at the Plant and balance 878 tonnes at the Warehouses.
Due to the high production cost at VISP owing to the lack of linkages of iron ore and coal as well as inefficient technology, the overall sales performance of VISP materials has declined during the first six months of this financial year.
Poor demand from units consuming alloy steels materials has aggravated the situation for this industry as a whole, wherein overall capacity utilization has been at the level of 55-60%.
