MANUAL-1
Particulars of Organization, Functions & Duties
[Section-4 (1) (b) (i)]
1. Particular of its organization, functions and duties
The Industrial Development Corporation of Odisha Ltd. (IDCOL) was incorporated on 29th March 1962 as a wholly owned Govt. of Odisha Undertaking. It has its Registered Office at IDCOL HOUSE, Unit-II, Ashok Nagar, Bhubaneswar-751 001, Dist. Khurda, Odisha, India (Telephone No.(0674) 2532848, Fax: 0674- 2530518, Email: www.idcorissa.com) . The main objectives of the Corporation are to establish, promote
and execute heavy and medium scale industries within the State of Odisha and to aid, assist and finance industrial undertaking with capital for the execution of its works / business, which is likely to promote industrial development and accelerate the pace of industrial growth of the State. The present authorized share capital of the Corporation is Rs.75 crores and paid up capital is Rs.57.12 crores.
Now IDCOL is undergoing a reform process. Keeping in pace with the present market environment and Governments economic policy, IDCOL has divested its stake in its subsidiary Companies i.e. IDCOL Cement Ltd. IDCOL Rolling Mill Ltd., Hirakud Industrial Works Ltd., Orichem Ltd. . Assets of its sick subsidiary Companies i.e. SN Corporation Ltd., IDCOL Piping & Engineering Works Ltd., and ABS Spinning Odisha Ltd. have been disposed off for their economic use.
At present, the Corporation has four Subsidiary Companies under its control. The details of products of the aforesaid Subsidiary Companies are as under;
|
Sl. |
Name of the Subsidiary Company |
Year of Commencement of production |
Products |
Employment |
Remarks |
|
1 |
2 |
3 |
4 |
5 |
6 |
|
1 |
IDCOL Kalinga Iron Works Ltd. (IKIWL) At/P.O. Matkambeda, Dist. Keonjahr |
April, 1963 |
Foundry grade Pig Iron, Cast Iron Spun pipes |
280 |
- |
|
2 |
IDCOL Ferro Chrome & Alloys Ltd. (IFCAL)At/P.O. Jajpur Raod, Dist. Jajpur |
Nov., 1969 |
HCFC, LCFC Si Chrome |
211 |
|
|
3 |
Konarak Jute Ltd. (KJL) At/P.O. Dhanmandal Dist. Jajpur |
Feb., 1979 |
Heavy Cess Cement bags, BT will bags, D.W. Flour bags, Hessian bags etc. |
6 |
On the recommendation of BIFR / AAIFR for winding up of the Company, Comp. Act Case No. 36 of 2001 is pending in the Hon’ble High Court of Odisha. |
|
4 |
IDCOL Software Ltd. (ISL) IDCOL House, Unit- II, Ashok Nagar, Bhubaneswar. |
November, 1998 |
Development of Software and imparting training to the students of Computer Discipline. |
5 |
- |
Besides, IDCOL is operating two mines namely Roida ‘C’ Mines in the district of Keonjhar, Ampavalli lime stone mines in the district of Koraput and Talangi Chromite Mines in the district of Jajpur. Further details are available with the respective Subsidiary Companies.