Volvo Auto India to set up an assembly facility in Odisha

<p>Odisha government has invited Volvo Auto India for the installation of its assembly plant in the state as the company was looking for setting up plant in India in order to cut down import cost. The state government wanted Volvo to select Odisha as the preferred plant location as the state provides competitive incentives to automobile manufacturers.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/1473864131-5078.jpg" alt="news" width="517" height="226" /></p> <p>Odisha accounts 54 per cent of India&rsquo;s aluminium smelting facility. National Aluminium Company (Nalco) and the state-owned Odisha Industrial Infrastructure Development Corporation (Idco) have developed an aluminium park at Angul. Nalco will offer molten aluminium of 0.1 million tonne per annum for the downstream units.</p> <p>Odisha industries secretary Sanjeev Chopra&nbsp;has written a letter to Tom Von Bonsdorff, managing director of Volvo&nbsp;Auto India Ltd stating, "&hellip; We invite you to consider setting up the unit in&nbsp;Odisha. The state's existing Industrial Policy Resolution (IPR) provides very competitive incentives for automobile manufacturers.&rdquo;</p> <p>{googleAdsense}</p> <p>&nbsp;&ldquo;In addition, a new dedicated policy for auto and auto components sector is on the anvil which will ensure unmatched competitive advantage for companies setting up units in the state,&rdquo; he concluded.</p> <p>Odisha has released its up-to-date IPR which says the state will develop an auto park that would boast a disruptive policy intervention in the form of a dedicated policy for automobiles and auto components manufacturing.</p>