BHUBANESWAR: To promote investments in downstream aluminium sector, Industries Department and CII on Monday engaged with over 70 Indian companies inviting them to invest in Odisha’s downstream ecosystem.The State Government is setting up the first Aluminium Park at Angul with amenities for downstream industries to directly obtain molten aluminium from the smelter.
To be spread over 223 acres of industrial land, the park will create ample opportunities for the downstream industries in the State.Principal Secretary, Industries Sanjeev Chopra said, the State has received several investment proposals for the Aluminium Park and aims to create around 15,000 job opportunities through the project.
Over the past five years, the State has attracted investments worth `893 crore, including proposals by Bahrain-based Midal Cables and Power Grid Corporation of India subsidiary Grid Conductors. Four out of five proposals are for the aluminium park.
Addressing the investors, CMD, Nalco TK Chand said downstream industries will have cost benefit of `10,000 per tonne and enough raw material committed to them. Nalco will provide hand holding to all the downstream and ancillary units, he said.“There is huge opportunity for downstream products in the State. Investors will get developed land, power and training facilities. The State Government will also assist investors in setting up their operations,” said Chand, also Chairman of CII, Odisha.CEO, Angul Aluminium Park SK Mohanty said, availability of abundant raw material from Nalco, Vedanta will be very crucial for the downstream aluminium and ancillary industry.Chief Executive Officer (Aluminium) of Vedanta Limited Abhijit Pati said, the downstream industry will generate huge employment potential in the State which has 25 per cent coal and 60 per cent bauxite deposits. The R&D impetus will further boost growth in the sector, he added.With an investment of `180 crore, the aluminium park will provide world class logistics and infrastructure facilities.