New Delhi, Dec 4 (LocalWire) The centre has constituted a Joint Venture Company (JVC) for the establishment of an aluminium park at Odisha’s Angul district, the minister of mines, coal, Pralhad Joshi informed the Lok Sabha today.
Angul Aluminum Park Private Limited (AAPPL) has been constituted on July 30, 2010, as a Special Purpose Vehicle (SPV) by NALCO and IDCO the said the minister while replying to a query by former union minister and Sundergarh MP Jual Oram.
In the JVP, IDCO is having 51 per cent equity with the rest 49 per cent share and equity held by Nalco, the minister said.
However, Union Minister for Commerce and Industry Piyush Goyal in an unstarred question on November 30 in Rajya Sabha had said the Apex Committee constituted to assess the project has decided to drop the project owing to local resistance.
National Aluminum Company ( NALCO) is India’s largest state-owned aluminium producer while Odisha Industrial Infrastructure Development Corporation (IDCO) is a government of Odisha undertaking.