Chhattisgarh to Revive Aluminium Park Project in Korba | 24 Feb 2024
Why in News?
The Chhattisgarh government has decided to revive an aluminum park proposal originally mooted in 2021 to promote small-scale industries in Korba.
Key Points
- The State government had entered an agreement with Bharat Aluminium Company Ltd (BALCO), a subsidiary of Vedanta Limited to supply raw aluminum to small-scale industries at a subsidised rate.
- The district administration identifies Rukhbahari village land for the project near BALCO township and even held a gram sabha to take the consent of villagers for the project.
- An initial provision of Rs 5 crore has been made in the budget proposal of the industry department for the financial year 2024-25 to meet the demand of Aluminum Park in Korba district.
Bharat Aluminium Company Ltd (BALCO)
- BALCO was incorporated in 1965 as the first Public Sector Undertaking (PSU) in India and since then it has been closely associated with the Indian Industrial Growth, in a pivotal role.
- In 2001, Government of India disinvested 51% shares of Bharat Aluminium Company Limited (BALCO) to Sterlite Industries Limited a subsidiary of Vedanta Limited.
- BALCO is playing a crucial role in introducing Aluminium as a potential alternative to other metals like Steel in construction, and Copper in the power transmission industry.
- Major operations of BALCO are in the town of Korba (Chhattisgarh), whereas its mines supplying high grade Bauxite are situated at Kawardha and Mainpat.