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National Aluminium Company Ltd. (NALCO) and the Orissa government on
Saturday formally set up the joint venture company Angul Aluminium Park. In
the joint venture, Nalco will hold a 49.5% stake and the Orissa government
owned Industrial Infrastructure Development Corporation (IDCO) the majority
50.5% stake. NALCO and IDCO had signed an MoU for the aluminium park project
in September 2009.
The park would come up adjacent to the existing smelter of NALCO at Angul at
an estimated cost of Rs 75 crore. Currently, land acquisition for the
project is in progress. The park would host ancillary & downstream
industries like coal tar pitch, aluminium fluoride, aluminium conductors,
aluminium castings, extrusion, slugs and circles. NALCO will supply hot
metal from its smelter to the aluminium processing units in the park to
ensure considerable savings in consumption of power.
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