Bhubaneswar, Feb 16: Aluminium major Nalco has committed an investment of Rs 20,550 crore in Odisha.
Speaking at the Odisha Investors’ Meet in Mumbai on Sunday CMD Tapan Kumar Chand said Nalco’s focus is to improve the investment climate in the State.
“Nalco has committed an investment of Rs 20,550 crore for expanding its alumina refinery at Damanjodi and setting up an aluminium park at Angul.”, he stated.
“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.
