Midal Cables' Rs 3.6 bn investment on Odisha aluminium park in jeopardy

Bahrain-based company is sore over lack of a long-term commitment in molten aluminium supplies by Nalco

Odisha's aluminium park project at Angul, jointly promoted by National Aluminium Company (Nalco) and state-owned Odisha Industrial Infrastructure Development Corporation (Idco), has run into trouble. Bahrain-based investor Midal Cables has resented the lack of a long-term commitment in molten aluminium supplies by Nalco, jeopardising the fate of its Rs 3.58 billion investment committed on the downstream park.

"Midal Cables wants uninterrupted molten aluminium supplies for 25 years. Their annual requirement is 25,000 tonnes. Nalco is constrained to commit supplies for 25 years, it has offered to provide molten aluminium for five years under an arrangement. Unless Midal Cables get a