IDCO Plans to invest Rs 429 crore for Mega Aluminium Park at Angul
Odisha Industrial Infrastructure Development Corporation (IDCO) is planning to invest Rs 429 crore to expand and develop its existing aluminium park at Angul, Odisha. This amount will be used for land acquisition as well as for the development of the proposed mega aluminium park. This park will contribute to the industrial infrastructure of the state.
Currently, the existing park has been built on 223 acres of land, to which IDCO will add 300 acres between Angul town and NH-55. The proposal for this project was approved by the Odisha State Cabinet in a meeting held on 25th May 2022.
This expansion is expected to attract many downstream aluminium industries as some of the major smelters contributing 54% aluminium smelting capacity of India like NALCO, Vedanta and Aditya Birla are in its vicinity. Apart from highways and rail network, sea port is 174 Kms from Angul and international airport is just 100 Kms, which will boost the infrastructure development efforts in the region.
