What is (IDCO) Odisha Industrial Infrastructure Development Corporation?
IDCO Full form is Odisha Industrial Infrastructure Development Corporation. The Industrial Development Corporation of Odisha Limited is a Government of Odisha Undertaking that was established in 1981 with the primary objective of promoting and financing industries in the state of Odisha. Since its establishment, IDCO has played a pivotal role in the industrialization of Odisha by financing more than 3,000 projects in various sectors such as steel, aluminum, cement, textiles, chemicals, and food processing. In recent years, IDCOL has also expanded its mandate to include renewable energy projects such as solar and wind power. With a strong focus on promoting sustainable development, IDCOL is committed to supporting the industrial growth of Odisha while also protecting the environment.
What is IDCO, Odisha?
The Government of Odisha established the Industrial Development Corporation of Odisha Limited (IDCO) in 1981 as a public sector undertaking under the Orissa Industrial Infrastructure Development Corporation Act, 1980. IDCO is the nodal agency for the promotion and coordination of industrial development in the State of Odisha.
IDCO’s vision is to catalyze the rapid industrialization of Odisha by providing world-class infrastructural facilities and services and developing it into a globally competitive investment destination.
The Corporation’s mandate is to identify land for setting up industries, provide developed industrial land with necessary infrastructure such as water, electricity, roads, etc., create common facilities such as mini-hydel power plants, effluent treatment plants, etc., and promote growth centers and industrial estates.
What are the objectives of IDCO, Odisha?
The objectives of the Industrial Development Corporation of Odisha Limited (IDCO) are to promote and facilitate investment in industry and infrastructure in the state of Odisha, India.
The objective of IDCO is to promote rapid industrialization in Odisha through investment in infrastructure and industry. IDCO provides a one-stop solution for investors looking to set up industrial units in Odisha. It provides land at pre-approved sites, assists with necessary clearances and approvals, arranges to finance, and facilitates linkages with raw material suppliers.
What are the functions of IDCO, Odisha?
IDCO is the state-owned industrial development corporation of the Indian state of Odisha. It was incorporated in 1981 as a limited company. The company has been engaged in the promotion and development of industries in Odisha.
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Some of the key functions of IDCO include:
1. Identifying and acquiring land for setting up industrial projects in Odisha.
2. Developing infrastructure facilities such as roads, water supply, power supply, etc.
3. Providing financial assistance to industries through equity participation and term loans
4. Facilitating clearance of statutory approvals from various government departments
5. Undertaking promotional activities for investment opportunities in Odisha.
Industrial Area Developed by IDCO in Odisha
IDCO has played a crucial role in developing the Industrial infrastructure in Odisha. IDCO is the nodal agency responsible for the promotion and development of industry in Odisha.
The Corporation has developed many industrial estates/areas in different parts of the state like Bhubaneswar, Cuttack, Sambalpur, Rourkela, Jharsuguda, Paradip, and Balasore. All these industrial areas are well connected to road, rail, and port facilities. The Corporation provides basic infrastructure facilities like water, electricity, roads, etc. in these estates.
IDCO has developed 105 Industrial Estates/areas set up in different strategic locations of Odisha. 1545 sheds constructed in the above Industrial Estates in Odisha. So far 9613 acres of Industrial land is developed in Odisha.
How to Buy Industrial Land/Plots in IDCO, Odisha
If you are looking to buy industrial land or plots in IDCO, Odisha, there are a few things you should keep in mind. First, IDCO is a government organization, so you will need to go through the proper channels to purchase land from them. Second, IDCO only sells land that is zoned for industrial use, so make sure to check the zoning before you buy. Finally, IDCO offers a variety of payment options for purchasing land, so be sure to explore all of your options before making a decision.
How to apply for IDCO?
IDCO Odisha has the mandate to promote industrialization in the state by providing infrastructural support to the industry. IDCO is also responsible for the development of the state’s industries and investment promotion.
To apply for an Industrial land/plot in IDCO, interested companies must submit an Expression of Interest (EOI) along with the required supporting documents. An EOI is a statement of interest that outlines a company’s intention to buy industrial land.
If you are looking to invest or set up an industry in Odisha, IDCO is definitely an organization you should get in touch with.
