HINDALCO LIMITED, a flagship company of Aditya Birla group, has expressed interest in setting up a Special Economic Zone (SEZ) at Sidhi district of Madhya Pradesh with an investment of Rs 38,00 crore.
This investment would be in addition to the committed investment of Rs 17,700 crore the company had agreed to invest in Madhya Pradesh in its greenfield aluminium (alumina smelter) project.
Sources said that the group had already sent a formal proposal in this regard to the Madhya Pradesh Government elaborating in detail about aluminum products that the company would produce at the proposed SEZ.
The Special Economic Zone would be set up at 3000 acres of land in Sidhi district. The company has plans to produce various exportable items at this SEZ. Meanwhile, officials of the Commerce and Industries department are upbeat on receiving this proposal from one of the major groups of the country.
Talking to Hindustan Times, they confirmed that the State Government had received a detailed project of the company for setting up SEZ at Sidhi.
The Hindalco proposal would be placed before the high-powered Project Clearance and Implementation Board, sources in Commerce and Industries department said.
Talking to HT, they said that the meeting of the Board was likely to be held on September 23. If the company’s Special Economic Zone would be approved in the proposed meeting it would get all benefits of SEZ, they added.
It is to be mentioned here that the company had earlier announced that it was setting up an aluminium smelter in Sidhi at an investment of Rs 17,700 crore.
The project is expected to go on stream in a four-year time frame, after all necessary approvals and infrastructure support are well in place.
The aluminium smelter in Sidhi is expected to create 4,000-5,000 new jobs and generate another 12,000 jobs indirectly, the company said.
This greenfield project entails putting up of 3,25,000 tonnes aluminium smelter, a 750 MW captive power plant and a jointly owned captive coal mine.