 "A bird flies by the Vedanta office building in Mumbai")
This state-of-the-art plug-and-produce aluminium park will be set up across 240 acres of land, providing an exclusive ecosystem for industries dependent on as well as manufacturing aluminium conductors, extrusions, castings, foils, powder and paste.
For commissioning of the proposed park, Vedanta would sign a memorandum of understanding (MoU) with the Odisha government. The announcement to set up the aluminium park was made by Vedanta during the 'Make in India' week organised in Mumbai.
Abhijit Pati, chief executive officer (aluminium), Vedanta Ltd said, "Vedanta is deeply honoured to be the partner of choice for the Odisha government in setting up a crucial aluminium facility. This collaborative effort will create a win-win situation for all. The park has the potential to attract over Rs 1,000 crore of investment which can be operationalized within a relatively short time-frame. At full capacity, the park can generate direct and indirect employment to approximately 17,000 people. With this kind of infrastructure, Odisha can become the aluminium hub of the world."
Commenting on the advantages of the park, he said, "The medium to long-term outlook for aluminium production in Odisha is extremely positive. The state has abundant reserves of bauxite and accounts for 55 per cent of India's deposits. Coal, another important raw material for the smelters, is also available in abundance in the state. Easy proximity to the domestic markets and the geographical advantage of a large coastline which
gives quick access to ports and the export market make Odisha a favourable destination for downstream industries."
The park will facilitate easy transport of aluminium in liquid form, resulting in substantial cost savings that will be a game-changer for the downstream industries. With a holistic ecosystem in place, the park is expected to attract a large number of aluminium/aluminium-based industries generating huge revenues and employment in the region.
