Bhubaneswar: The Odisha Cabinet today approved financial assistance of Rs 428.95 crore for the development of the mega aluminum park in Angul district.
The Rs 428.95 crore financial assistance includes land acquisition.
The target for completion of the park to be executed through IDCO is three years (2021-22 to 2023-24).
The State government came up with the new scheme “Financial Assistance for development of Mega Aluminum Park at Angul” considering the present scenario of industrialization in other States, and the need for the State to provide developed land at a competitive price with world class infrastructure in order to attract entrepreneurs to set up their units in the upcoming Industrial Parks.
This can be only possible if State Government provides the necessary budgetary support for the development of Mega Aluminum Park so that the land rates are attractive and comparable with other competing states.
The development of the above new Industrial Estate has been kept under focus sector as per Vision 2025 and is being monitored under 5T Framework regularly.