02 MARCH 2015AlCircle.com
Angul aluminium park gets the final nod from the Indian Union government
Edited by : AL CIRCLE
1 min read
The long awaited Angul aluminium park, a joint venture between Odisha Industrial Infrastructure Development Corporation (Idco) and National Aluminium Company Ltd (Nalco) finally gets a nod of approval from the Union Government.
A special purpose vehicle (SPV) named Angul Aluminium Park Private Ltd (AAPPL), will be developing the park across 450 acres of land, with the first phase taking up 160 acres of the land. Idco’s contribution is slightly higher, 50.50 percent while Nalco will be contributing 49.50 percent of the cost.
"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.
Nalco has already promised to supply 50,000 tons of molten aluminium per annum to the park where a wide variety of downstream businesses are hoping to set up including those dealing with aluminium conductors, extrusions, castings, foils, powders and pastes.
A special purpose vehicle (SPV) named Angul Aluminium Park Private Ltd (AAPPL), will be developing the park across 450 acres of land, with the first phase taking up 160 acres of the land. Idco’s contribution is slightly higher, 50.50 percent while Nalco will be contributing 49.50 percent of the cost.
"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.
Nalco has already promised to supply 50,000 tons of molten aluminium per annum to the park where a wide variety of downstream businesses are hoping to set up including those dealing with aluminium conductors, extrusions, castings, foils, powders and pastes.
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