The Union government has accorded final approval for the proposed aluminium park at Angul jointly developed by Odisha Industrial Infrastructure Development Corporation (Idco) and navartna PSU National Aluminium Company Ltd ( Nalco).
"The department of industrial policy and promotion (DIPP) under the Union ministry of commerce and industry has given final nod for the aluminium park under the modified industrial infrastructure upgradation scheme (MIIUS). A sum of Rs 46 crore will be provided in four tranches for the infrastructure development of the park," said an official source.
The aluminium park at Angul is being developed by a special purpose vehicle (SPV) called Angul Aluminium Park Private Ltd (AAPPL), with shareholding of 50.50 per cent and 49.50 per cent between Idco and Nalco respectively. The park will be developed over 450 acres of land and 160 acres will be taken up for development in the first phase.
A wide variety of industries using aluminium conductors, extrusions, castings, foils, powder and paste can be set up at the Angul Aluminium Park. Nalco has already agreed to to supply 50,000 tonne per annum of molten metal to the aluminium park at Angul for promoting downstream industries.
