30 MARCH 2015AlCircle.com
Angul Aluminium Park receives 11 proposals from downstream units post approval
Edited by : AL CIRCLE
1 min read
As soon as the Angul aluminium park received a go-ahead by the government, it has generated interest in the downstream aluminium industry inviting 11 proposals from establishments who are interested in setting up downstream units in the park.
The proposed aluminium hub is a joint venture between National Aluminium Company and state-owned Odisha Industrial Infrastructure Development Corporation (Idco) with a 49.50-50.50 stakes respectively.
According to plan, the park will allow wide variety of sectors from downstream aluminium industry to set up shop including sectors like conductors, extrusions, casings, foils as well as powder and paste. Nalco has already committed to provide 50,000 tons of molten metal per annum to facilitate the downstream units, saving them remelting and transportation costs.
Among the interested parties, Bahrain-based Midal Cables Ltd has submitted a proposal where they are ready to invest INR 250-300 crore to set up an aluminium conductor and rod manufacturing unit.
Madurai (Tamil Nadu) based Metal Powder Company Ltd, is another one who has shown interested to set up their non-ferrous metal powder manufacturing business at the park with an investment of INR 330.90 crore.
To see previous news coverage on the topic, click here.
The proposed aluminium hub is a joint venture between National Aluminium Company and state-owned Odisha Industrial Infrastructure Development Corporation (Idco) with a 49.50-50.50 stakes respectively.
According to plan, the park will allow wide variety of sectors from downstream aluminium industry to set up shop including sectors like conductors, extrusions, casings, foils as well as powder and paste. Nalco has already committed to provide 50,000 tons of molten metal per annum to facilitate the downstream units, saving them remelting and transportation costs.
Among the interested parties, Bahrain-based Midal Cables Ltd has submitted a proposal where they are ready to invest INR 250-300 crore to set up an aluminium conductor and rod manufacturing unit.
Madurai (Tamil Nadu) based Metal Powder Company Ltd, is another one who has shown interested to set up their non-ferrous metal powder manufacturing business at the park with an investment of INR 330.90 crore.
To see previous news coverage on the topic, click here.
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