 "Idco urges Nalco to commit raw material support for aluminium park")
The aluminium park at Angul is being developed by a special purpose vehicle called Angul Aluminium Park Private Ltd (AAPPL), a 50:50 joint venture between Nalco and Idco.
“It is pertinent here to mention that while Idco is putting all its efforts in a dedicated manner for early development and operationalization of the park, Nalco being an equal promoter of this venture must reciprocate by a formal commitment for providing raw material support for units in the park without further delay,” Idco’s chairman and managing director (CMD) and industries secretary Vishal Dev said in a letter to Nalco CMD Anshuman Das. The Department of Industrial Policy & Promotion (DIPP) under Union commerce & industry ministry recently agreed to provide a grant of Rs 43.01 crore to the park under Modified Industrial Infrastructure Upgradation Scheme. The industrial complex at Angul is to be developed on 204 acres of land at a cost of around Rs 125 crore. It has so far attracted investments worth Rs 631 crore. Two industries- Midal Cables and Metal Powder Company Ltd have proposed to set up their units in the aluminium park.
More From This Section
Bahrain-based Midal Cables Ltd has submitted a proposal to set up an aluminium conductor and rod manufacturing unit at an investment of Rs 250-300 crore. Midal Cables has sought 30-40 acres of land within this aluminium park. The aluminium conductor unit is expected to cater to domestic as well as international market. The overseas investor had submitted the proposal in response to the invitation of expression of interest (EoI) by AAPPL. As many as 53 proposals were received in response to the EoI.
The company intends to use molten aluminium to manufacture its products. Molten aluminium requirement of Midal Cables is pegged at 60,000 tonnes per annum and the company wants to enter into a 25-year metal contract with Nalco at variable pricing mechanism. Nalco, however, had denied any contract with the overseas investor. Similarly, Metal Powder Company Ltd, a leading manufacturer of non-ferrous metal powders, based in Madurai (Tamil Nadu) is keen to set up an aluminium powder manufacturing unit at the Angul park at an investment of Rs 330.90 crore.
The ancillary and downstream industries identified to come up in the park include caustic soda, calcined petroleum coke, coal tar pitch, aluminium fluoride, aluminium conductors, alumunium extrusions, aluminium castings and slugs among others.