Odisha has been assured of investments worth `56,400 crore at the Odisha Investors’ Meet in the ongoing Make-in-India Week in Mumbai.
This includes the Nalco’s commitment of `20,550 crore for expanding its alumina refinery at Damanjodi and setting up an aluminium park at Angul.
In this context, Nalco CMD Tapan Kumar Chand said, “Since the entire value chain of Navratna Nalco, starting from bauxite mining to aluminium making is based in Odisha, our major focus is to strengthen the investment climate of the State, thereby boosting Odisha’s industrial upsurge.”
Chand was addressing representatives of different industries, entrepreneurs, bureaucrats, delegates from India and abroad during the investors’ meet on Sunday.
“Besides rich in mineral and water resources, Odisha has good road, rail and port connectivity. On the ease-of-doing-business index, the State is bracketed with the best,” Chand remarked. “Moreover, the entire State is dotted with engineering and management colleges, diploma and ITI institutes to source skilled manpower. At the same time, the recent ‘smartest city’ tag pinned on State capital Bhubaneswar by the Centre is an added advantage,” he pointed out.
“Given the tough going in the market, Nalco has developed a new Corporate Plan with a new business model that will withstand market onslaughts and keep the company afloat with profitability even in the slump cycle,” Chand added.