Industrial Infrastructure Development Corporation (Idco) is planning a mega aluminium park at Angul, for which the Odisha Cabinet has accorded approval earlier this month.
The mega aluminium park is likely to be constructed Idco’s existing aluminium plant by investing Rs 428 crore. The existing plant is spread over an area of 223 acres, and the new plant with similar infrastructure will be developed over an additional 300 acres of land. The plant is supposed to be established on a land located between Angul town and National Highway-55 connecting Cuttack and Sambalpur. Idco will soon start the land acquisition process. As per the target set by Idco, the aluminium park will be ready (in three years) by 2025, if everything goes as per plan.
Idco will develop the infrastructure, inside the aluminium park, to attract downstream and ancillary industries in the aluminium sector.
Earlier this month, state government had approved gross financial assistance of Rs 428.95 crore to develop mega aluminum park. The government also approved the proposal of Idco to procure 871.427 acres of land for its land bank from M/s Tata Power Co. Ltd. which had been earlier leased out for Tata’s coal-based thermal power plant at Barang, Cuttack district. So that, Idco could utlise the procured land for new industrial and infrastructure projects.
Representational Image: Nalco Plant, Angul