Bhubaneswar, Jan 31 (LocalWire) Odisha, the aluminium capital of South Asia, provides tremendous opportunities to investors to set up downstream industries in aluminum, said top officials on Thursday.
A senior delegation from the Industries Department of Government of Odisha attended the mega aluminium conference International Conference on Aluminium (INCAL) being organized by NALCO, Aluminium Association of India and the Ministry of Mines, Government of India.
At the inaugural session of INCAL in Bhubaneswar, Sanjeev Chopra, Principal Secretary, Industries Department and Chairman, IPICOL, said, “Odisha is now among the top 3 investment destinations in India and the number one state when it comes to the investment implementation rate.”
He said, as per Vision 2025 of the State Government, 6 focus sectors have been identified – and efforts are underway to attract 2.5 lakh crore additional investments in these sectors thereby creating employment opportunities for 3 million people.
“India’s aluminium consumption is expected to grow at 17-18% per annum, making it one of the largest consumption markets in the world.
Odisha, the mineral hub of the country, is the largest producer of aluminum contributing to 54% of the country’s total smelting capacity,” said Chopra.
The upstream industry landscape is home to leading domestic and international companies such as NALCO, Hindalco and Vedanta with a capacity of over 600,000 tonnes per annum.
“As per the Vision 2030 of the State Government, the goal is to add value to at least 50% of the primary metal produced in Odisha and develop industry-ready infrastructure to attract downstream and ancillary industries in the metals sector – steel, stainless steel and aluminium,” said Chopra.
“A dedicated private industrial parks policy has been promulgated already. Leading corporates such as Vedanta, Nalco, JSPL and Jindal Stainless are in advanced stages of setting up downstream parks in the State,” he said.
The Invest Odisha pavilion at the international exhibition being organized at Janata Maidan as part of INCAL was inaugurated by Ministry of Mines secretary Anil Mukim.
Dr. Nitin Jawale, MD, IPICOL showcased the aluminium downstream business ecosystem in Odisha and outlines the strategic advantages that the state offers to investors to set up downstream units in aluminium.
He invited the investors to explore setting up downstream units at the Angul Aluminium Park which is spread across 223 acres and is dedicated for downstream and ancillary industries in the aluminium sector.
It’s the first-of-its-kind in the Indian sub-continent with a facility for directly obtaining molten aluminium from the smelter and entails $ 29 million investment in infrastructure.
About 10 units have obtained all the statutory clearances such as Environmental Clearance, Local Development Authority and Odisha State Pollution Control Board approvals for starting the projects.
The park is a joint venture between NALCO and the state-owned Odisha Industrial Infrastructure Development Corporation (IDCO) that provides concessional pricing both for ingots and molten metals with higher discounts for MSME units compared to the large industries to boost local employment.
The response from investors to the Odisha government’s efforts has been encouraging, said officials.
A series of one-to-one meetings with many companies was also organized in the afternoon which included L&T, Hycast AS, Danieli India Ltd, Quebec, Sefar India among others.