New Delhi, Feb 4 (KNN) Industrial Promotion & Investment Corporation of Odisha Limited (IPICOL) has invited 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.

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.

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.

At the inaugural session of International Conference on Aluminium (INCAL) being organized by NALCO, Aluminium Association of India and the Ministry of Mines, Managing Director of IPICOL, Nitin Jawale 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.

Odisha is now among the top 3 investment destinations in India and the number one state when it comes to the investment implementation rate, said Sanjeev Chopra, Principal Secretary, Industries Department and Chairman of Industrial Promotion & Investment Corporation of Odisha Limited (IPICOL).

Odisha, the mineral hub of the country, is the largest producer of aluminum contributing to 54% of the country’s total smelting capacity.

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.