Odisha to Offer 188 Acres of Land to Nalco for a Proposed Investment of INR 5,500 crore

National Aluminium Company | Insights Success

The Odisha government is on the way to offer mammoth 188 acres of land to the National Aluminium Company (Nalco) for its ambitious downstream complex in Dhenkanal district of the State. This project is tipped to be one of the largest investments in the metal space which is also likely to generate more than 1,700 jobs in the state.

Experts believe Nalco is going to invest a gigantic amount of 5,500 crore rupees in this proposed project. Formalities to transfer land, are moving-up with rapid pace, and by the end of February, finalization of land requirements and other details are due expected, said one source close to this deal.

According to Odisha government, Nalco, in its proposal, has sought the demand of land in Markata and BS Sasan areas of Kamkhyanagar. Based on the experts’ report, the Industrial Promotion and Investment Corporation of Odisha Ltd. (IPICOL) has involved Engineers India Ltd (a Navratna PSU providing engineering and related technical services) to do the land assessment and submit a report on the technical and other requirements.

In this report, IPICOL will make recommendations and according to that Nalco has to purchase the land from the Odisha Industrial Development Corporation.

“The high-level clearance authority, headed by Chief Minister of Odisha has already given its approval to the Nalco project and the land assessment is underway,” said Sanjeev Chopra, Principal Secretary, Industries Department, Government of Odisha. “This step will boost investment in the downstream metal business across steel, stainless steel, and aluminium sectors.”

Nalco is expecting to start its operations within 48 months after receiving the possession of proposed 188 acres of land. This upcoming downstream complex will have the capacity to process 170,000 tonnes of metals per annum. Production of aluminium alloy wheels, used in the automobile industry, will also happen here, said one source close to Nalco.