 "Land acquisition for aluminium park gains momentum")
Out of 200 acres of land needed for the park, 132 acres has been acquired. The park, located close to the Nalco’s smelter plant, will promote ancillary and downstream industries in the aluminium sector. A special purpose vehicle (SPV) called Angul Aluminium Park Private Ltd (AAPPL) was formed by Idco and Nalco for the purpose.
The project has, so far, attracted investments worth Rs 631 crore.
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“Two industries - Midal Cables and Metal Powder Company Ltd have filed common application forms with the Industrial Promotion & Investment Corporation of Odisha Ltd (Ipicol) for setting up their units in the aluminium park,” said a senior government official.
Bahrain-based Midal Cables Ltd has submitted a proposal to set up an aluminium conductor and rod manufacturing unit there at an investment of Rs 300 crore. The company has sought 30-40 acres of land within the park. The aluminium conductor unit is expected to cater to domestic as well as international market. The company expects to commission the facility within 12-15 months of getting land and other approvals.
Midal Cables had submitted the proposal in response to the expression of interest (EoI) of AAPPL. As many as 53 proposals were received in response to the EoI.
The company intends to use molten aluminium to manufacture its products. The liquid metal 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 possible contract with the overseas investor.
Apart from Midal Cables, 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 aluminium 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.