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THE INDUSTRIAL DEVELOPMENT CORPORATION OF ODISHA LIMITED
ଓଡିଶା ଶିଳ୍ପ ଉନ୍ନୟନ୍ନ ନିଗମ ଲି
(A Govt. Of Odisha Undertaking)
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Shri Naveen Pattanaik
Hon'ble Chief Minister
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Shri Niranjan Pujari
Hon'ble Minister of Industries

Shri Sanjeev Chopra, I.A.S,
Principal Secretary
Department of Industries

Shri Prashanta Kumar Nayak, IAS
Chairman and Managing Director
 
 

Half Yearly Report in respect of Environmental Clearance by MoEF, Govt. of India, for Ampavalli Limestone Mine. || Half Yearly Report in respect of Environmental Clearance by MoEF, Govt. of India, for expansion of Talangi-A Cromite Mine for the period from October, 2014 to March, 2015

VISION

To become a Leading State owned manufacturing Company having expertise in mineral based industries and related products.

MISSION


a) To enhance brand value of the products

b) To make the products competitive and enhance their market share.

c) To promote industrial growth by optimizing production and by modernizing / diversifying the existing manufacturing plant & mines .

d) To promote new industries for optimum utilization of Stateís natural resources and produce value added items.

e) To strive for customer satisfaction through better products and service.

f) To strive for fairness, transparency, integrity & excellence in all activities.

g) To adopt and practice a progressive Human Resource Development Policy.

h) To foster creativity and team work.

i) To be an important source of R & D.

BOARD OF DIRECTORS

The affairs of the corporation is managed by a Board of directors appointed by the Government of Odisha. The day to day affairs is managed by the Chairman-cum-Managing Director of the Corporation. Presently, the strength of the Board is 12(click here)

OBJECTIVES OF IDCOL

To promote, establish and execute industries and operate schemes for Industrial development of Odisha and India To carry all kinds of exploration business and to search for, prospect, examine and explore mines

IDCOL- A BIRDíS EYEVIEW

IDCOL was a flagship corporation of Government of Odisha in 1960s, revolutionalising the industrialisation of the State, creating employment opportunities for about 10,000 direct and another 10,000 indirect employees and contributing about Rs.1,000 crore to State exchequre

The whole life cycle of IDCOL can be divided in two parts.

1st --------- 1962-1990 (pre-liberalization period)

During this period, IDCOL set up major industrial undertakings as its directly managed units and some undertakings as joint venture companies in association with private management.

After its incorporation on 29.03.1962, IDCOL commenced its activities from next month i.e., from April,1962 by taking over the Engineering Work Shop of the Hirakud Dam Project known as Hirakud Industrial Works with the capability and facility for execution of turn key transmission line tower projects. In April,1963, it acquired the Low shaft Blast Furnace at Barbil from Kalinga Industries Limited to produce Foundry Grade Pig Iron. With these two take over units, IDCOL started its long journey in successfully establishing new industrial units on its own and in association with private entrepreneurs in the State as well producing different products such as cement,rod,ferrow alloys, pig iron,cables,cotton and jute yarn, nuts and bolts, chemicals, fabrication and engineering etc. It has set up as many as 14 industrial undertakings giving employment to about 10,000 direct and about 15,000 indirect employment besides contributing substantially to the State Exchequer.

2nd ---------- 1991-2006 (post liberalization period)

All directly managed units were converted into subsidiary companies for better management under a separate Board of Directors. Some joint venture companies were acquired by IDCOL from the private management and made subsidiary companies thus bringing them into direct management of IDCOL.

Diversified activities into noncore sectors such as cotton and jute yarn, nuts and bolts ,chemicals ,engineering and fabrication etc., lack of modernization and expansion of core activities, excess manpower, competition with private sector with liberalization of economy all put together paved the way for taking a strategic decision to focus on core mineral sector industries.
In the post liberalization period, IDCOL immediately took steps for restructuring its activities as the Public Enterprises Reforms Policy of the Govt. through disinvestment and sale of assets so as to unlock the value of unutilized assets

IDCOL has unlocked the value of assets of sick companies, thus clearing the dues of employees and partly paying the dues of Banks and FIs. As on date, there is no external borrowing outstanding for payment.

IDCOL divested all its noncore subsidiary companies except Konarak Jute Limited which is in an advanced stage of divestment.

Besides, IDCOL has a software outfit ,IDCOL Software Limited.

Its two core companies, IDCOL Kalinga Iron Works Limited (IKIWL)and IDCOL Ferrochrome and Alloys Limited(IFCAL) are now under corporate restructuring through induction of a central PSU as strategic investor with 51% equity to go for modernization and expansion of activities.

For details about IKIWL and IFCAL, please visit http://www.ikiwl.com and http://www.ifcal.ori.nic.in

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