Asansol, Dec 23: After four years and eight months, IISCO works of Kulti here will reopen on December 25, a Christmas gift to the nation, according to former minister Bansagopal Chowdhury (MP).
Union Steel Minister Ramvilas Paswan, External Afffairs Minister Pranab Mukherjee and CPI(M) MP Basudev Acharya will witness the operation of IISCO's Kulti works at 1100 hrs, which was closed nearly five years ago due to labour trouble and fund crunch. IISCO Kulti works will have new name- SAIL Kulti works (Growth Division).
Earlier, in all 2800 employees took voluntary retirement from services (VRS) on the last day of IISCO Kulti works on March 31, 2003.
It was the oldest spun pipes and steel works in India.
About Rs 5000 crore will be invested for overhauling and modernisation of the Kulti works for making it a viable subsidiary of the Steel Authority of India (SAIL).
Of the total funds for reconstruction of the century-old steel making facility, Rs 200 crore will be invested in the first phase.