28 NOVEMBER 2014AlCircle.com
The Govt. takes a renewed interest in the Angul Aluminium Park
Edited by : AL CIRCLE
2 min read
The prospect of Angul Aluminium Park has started to look a little better as the government has taken a renewed interest in the project.
It has received approval in principle under Modified Industrial Infrastructure Up-gradation Scheme (MIIUS) of the Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry.
It is estimated that this elaborate project will cost approximately 125 crore and the Centre has granted a grant of 43 crore to get things started.
The MIIUS has introduced a Special Purpose Vehicle that has been named Angul Aluminium Park Pvt. Ltd (AAPPL) where IDCO has 50.5 percent equity and Nalco has the remaining 49.5 percent share. Vishal Dev, the CMD of IDCO says that they are “committed to develop industrial infrastructure along with external linkages such as road, water and power supply for the industrial park."
An expanse of 454 acres of land has been allotted for the park, 254 acres of which will be covered in the first phase of construction while the remaining 230 acres will be covered in the second phase. This park will be the only one of its kind that will supply hot aluminium metal which Nalco has agreed to supply along with the conventional solid form.
It has received approval in principle under Modified Industrial Infrastructure Up-gradation Scheme (MIIUS) of the Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry.
It is estimated that this elaborate project will cost approximately 125 crore and the Centre has granted a grant of 43 crore to get things started.
The MIIUS has introduced a Special Purpose Vehicle that has been named Angul Aluminium Park Pvt. Ltd (AAPPL) where IDCO has 50.5 percent equity and Nalco has the remaining 49.5 percent share. Vishal Dev, the CMD of IDCO says that they are “committed to develop industrial infrastructure along with external linkages such as road, water and power supply for the industrial park."
An expanse of 454 acres of land has been allotted for the park, 254 acres of which will be covered in the first phase of construction while the remaining 230 acres will be covered in the second phase. This park will be the only one of its kind that will supply hot aluminium metal which Nalco has agreed to supply along with the conventional solid form.
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