Aluminium Park expects Rs.2,000cr investment
Vedanta Aluminium Business, India’s largest producer of aluminium and its value-added products, has extended invitation to aluminium producers at the Enterprise Odisha 2021 event for partnering in its Aluminium Park project which will come up at Jharsuguda, Odisha.
The project is expected to attract investments of over Rs.2,000 crores to Odisha and engage thousands of MSMEs in the ecosystem, thereby bringing in additional economic value to the tune of Rs.4,500 crores to the state annually, said Vedanta in a release on 7 Dec 2021.
The park has potential to create over one lakh livelihood opportunities in the state, with a community outreach of more than 4 lakh.
With an aspiration to ‘Make in India for the world’, Vedanta Aluminium has partnered with Odisha Industrial Infrastructure Development Corporation (IDCO) to set up the Vedanta Aluminium Park, near its aluminium smelter in Jharsuguda. Vedanta Jharsuguda is one of the world’s largest aluminium smelters, equipped with global best technologies for producing high-quality aluminium products.
An Aluminium Park is a facility in the vicinity of an aluminium smelter, where downstream industries set up their manufacturing units and draw hot metal from the smelter to manufacture their end-product.
Inviting aluminium producers to set up shop at the Vedanta Aluminium Park, Rahul Sharma, CEO – Aluminium Business, Vedanta Limited, said, “Odisha is crowned as the aluminium capital of the country. With the objective to develop a thriving ecosystem of aluminium-based SMEs and MSMEs in Jharsuguda, Vedanta is committed to supply 3 lakh metric tonnes of aluminium to companies who set up their facilities in our Aluminium Park.
“The project brings with it three-fold benefit to Odisha, investments by MSMEs from across the country in the state, creation of large-scale employment opportunities for the local talent, and significant revenue in the form of taxes and duties for the state exchequer.”
The Aluminium Park will offer facilities such as water, power, hot metal supply, dross processing plant as well as other benefits to companies that set up their manufacturing units in the park. More importantly, proximity to Vedanta’s Jharsuguda smelter will ensure that the companies have access to Vedanta’s Centre of Excellence and R&D Centre for downstream aluminium products.
Furthermore, availability of high-quality molten metal directly to their processing units will reduce input costs significantly, making the final products cost-competitive and at par with global quality standards. This model also ensures that the carbon footprint of the entire value chain is substantially reduced.
Vedanta Aluminium Business, a division of Vedanta Limited, is India’s largest manufacturer of aluminium, producing half of India’s aluminium i.e., 1.96 million tonnes in FY21. It is a leader in value-added aluminium products that find critical applications in core industries. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow. fiinews.com
