Home ECONOMY Italian body to sign MoU to invest in aluminium park in Odisha

Italian body to sign MoU to invest in aluminium park in Odisha

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Bhubaneswar: The Aluminium Association of India (AAI) and leading aluminium association ASSOMET and AMAFOND of Italy will sign a MoU for investing in a joint venture in the upcoming aluminium park at Angul in Odisha, an official statement said on Tuesday.

The aluminium park is being developed by the National Aluminium Company Limited (NALCO) and the Odisha Industrial Infrastructure Development Corporation (IDCO).

The MoU is likely to be signed during an Italian industry delegation’s visit in January 2018.

The Consul General of Italy Damiano Francovigh along with other officials on Tuesday met NALCO CMD and AAI Chairman Tapan Kumar Chand here and held discussions for industrial cooperation and collaboration between the aluminium industries of India and Italy.

During the discussion, Chand proposed to the Italian industry delegation led by the Consul General and the Ambassador of Italy to India to visit NALCO and other industries in Odisha to which the Consul General agreed.

“With large bauxite reserves and presence of major aluminium players like NALCO, Hindalco and Vedanta, Odisha is considered to be the aluminium capital of India. Global firms should come forward for investing in joint ventures with upstream and downstream units,” Chand said.

Odisha Chief Minister Naveen Patnaik on Tuesday met the Consul General of Italy and invited the Italian companies to invest in a special industrial park meant for the handloom and auto industries.

The Chief Minister also proposed to have a roundtable meeting with the CEOs of Italian companies during the ‘Make in Odisha’ Conclave in November next year.

Consul General of Italy Damiano Francovigh said Italian companies are interested in doing business in Odisha.

(IANS)