 "Midal Cables gets land for aluminium unit")
The aluminium park is being developed jointly by National Aluminium Company (Nalco) and Idco. A special purpose vehicle (SPV) called Angul Aluminium Park Private Ltd (AAPPL) was formed by Idco and Nalco for the purpose.
“Idco has leased out 12 acres land to Midal Cables for setting up its facility at the aluminium park,” said an industries department official.
More From This Section
Midal Cables has announced an investment of Rs 300 crore to set up an aluminium conductor and rod manufacturing unit.
The company intends to use molten aluminium to manufacture its products. Molten metal requirement of Midal Cables is pegged at 60,000 tonne per annum (tpa) and it was keen to enter into a 25-year metal contract with Nalco for supply of the material at variable price. But Nalco, which had initially denied any contract with Midal Cables, has recently relented and agreed to supply 50,000 tpa of molten metal for all downstream units in the aluminium park.
Nalco announced its supply commitment after Idco pressed for ensuring raw material linkage for the units in the aluminium park.
It may be noted that 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.
Apart from Midal Cables, Madurai-based Metal Powder Company Ltd, a leading manufacturer of non-ferrous metal powders, is keen to set up an aluminium powder manufacturing unit 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.