Odisha government approves INR 428.95 crore budget for a mega aluminium park in Angul
According to a report on Wednesday, May 18, the Odisha government has approved a budgetary provision of INR 428.95 crore for the development of a mega aluminium park in Angul. The state cabinet members took the decision at a meeting chaired by Odisha Chief Minister Naveen Patnaik.
The objective is to establish an industrial space with world-class infrastructure at a competitive price to attract entrepreneurs to build manufacturing units in the upcoming business park. The development of the park is under focus sector as per Vision 2025 and being monitored under 5T Framework regularly.
Besides the budgetary support, the government has agreed to issue a financial scheme – Financial Assistance for Development of Mega Aluminium Park at Angul for IDCO (Odisha Industrial Infrastructure Development Corporation). IDCO is responsible for giving a shape to the project in the next three years.
Chief Secretary S C Mohapatra told reporters that the project would be implemented during FY22-FY24.
Among other decisions, Mohapatra said the cabinet also approved proposals for creation of land bank for industry and infrastructure.
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