Union Minister for Heavy Industries and Steel, H D Kumaraswamy plans to revive the Sir M Visvesvaraya Iron and Steel Factory in Bhadravati, Karnataka with an estimated investment of Rs 15,000 crore.

Speaking at the 87th All India Kannada Literary Conference in Mandya, the Minister stated that this decision aligns with the Modi government's efforts to address unemployment and focus on industrial growth in the state. He highlighted the significance of the factory, which was established under Mysuru Maharaja Nalvadi Krishnaraja Wadiyar and Bharat Ratna Sir M Visvesvaraya.

Regarding establishing an IIT near KRS in Mandya, the Minister assured that the proposal would be examined thoroughly. the plant was set up in 1918 as ‘Mysore Wood Distillation & Iron Works’, but gradually moved to pig iron production in 1923.  It was later in the year named Mysore Iron & Steel Works, and eventually moved to production of ferro-alloys, and expanded its steel production.