Midal to set up aluminium conductor unit at Angul

Midal Cables is likely to set up an aluminium conductor and rod manufacturing unit in Orissa with an investment of Rs 250-Rs 300 crore.

The new unit will come up at the aluminium downstream and ancillary products park at Angul to be developed jointly by Orissa’s nodal land acquisition agency – Industrial Infrastructure Development Corporation of Orissa (IDCO) and National Aluminium Company (NALCO). Midal has sought 30-40 acre within this park.

The aluminium park is to be set up as a 50:50 JV between IDCO and NALCO on 204 acre close to NALCO’s smelting facility at a cost of Rs 75 crore. A SPV called Angul Aluminium Park (AAPPL) was formed by IDCO and NALCO for the purpose. Midal had submitted the proposal in response to the EoI of AAPPL. As many as 53 proposals were received in response to the EoI.