Bhubaneswar: More than 70 Indian companies participated today in the investor meet on Angul Aluminium Park. There was tremendous enthusiasm on the part of project proponents for putting of industries like conductors, extrusions, aluminium foils, rolled sheets as downstream industries and also in ancillary industries in the areas of aluminium fluorides, CT pitch, equipment and parts etc.
India’s Aluminium consumption is growing at a compound rate of 15% (year-on-year), making it one of the largest consumption markets in the world. With the demand of Aluminium expected to rise further, Odisha which is the largest producer of Aluminium in the country and contributing to 54% of the country’s total smelting capacity is setting up first of its kind Aluminium Park in Angul with the facility for downstream industries to directly obtain molten aluminium from the smelter. Spread over 223 acres of industrial land, the Aluminium Park will create ample of opportunities for the downstream industries in the state.
In the meet, Principal Secretary, Department of Industries, Govt of Odisha Shri Sanjeev Chopra, leading Aluminium majors led by NALCO CMD Dr. Tapan Kumar Chand, who is also the Chairman of CII Odisha Chapter, CEOs of Vedanta and Hindalco, made presentation on opportunities in Aluminium sector, ancillary and downstream units making Odisha a hub of value addition in Aluminium.
Various companies from India like KEI Industries, Jindal Steel, Havells India, Indian Oil, Hindustan Petroleum Corporation Limited and Sterlite Technologies Ltd among many others attended the roundtable. Addressing the investors from various Indian states, Chairman, CII Odisha and CMD, NALCO, Dr. T K Chand analyzed five fundamentals of setting up of downstream and ancillary industries in Angul Aluminium Park. He said Aluminium market is in the last leg of its downturn and it is the right time to invest in aluminium industry. He also explained NALCO’s strategy of handholding downstream & ancillary units by allowing these industries to use NALCO brand name.
The downstream industry will have cost benefit of Rs 10,000 per tonne and will have enough raw materials committed to them. Additionally, Mr Chand said that NALCO will provide hand holding to all the downstream and ancillary units.
Highlighting the business friendly reforms of the Government of Odisha, robust industrial ecosystem, world class infrastructure and various opportunities for the downstream industries in the state, Principal Secretary, Department of Industries, Government of Odisha, Mr. Sanjeev Chopra interacted with the investors present at the event. There was also a Panel discussion on ‘Ancillary and downstream ecosystem in aluminium sector’, an open house discussion followed by a site visit to Angul Aluminium Park.
Addressing the investors, Mr. Sanjeev Chopra said, “Odisha is witnessing rapid industrial transformation as per the roadmap laid out in our ‘Vision 2025’ document. Odisha is a mineral rich state and by developing world class infrastructure we aim to provide an ideal business ecosystem for all the related sectors to flourish. We have already received several investment proposals for the Aluminium Park in Angul and we aim to create around 15000 job opportunities through the project.”
The meetings started with welcome address by Shri S.K. Mohanty, CEO, Angul Aluminium Park. The meet has generated sufficient momentum for project proponents to make aluminium park setup by NALCO and IDCO as a choice investment destination.