The Industrial Development Corporation of Odisha Limited(IDCOL) was a flagship corporation of Government of Odisha  set up in 1962  to promote, establish and run Industries for revolutionising the industrialization of the State and  creating employment opportunities.

In order to give value addition to the abundant mineral resources of the state , IDCOL started its  long journey in successfully establishing new industrial units of its own and in association with private entrepreneurs all over the State  producing different products such as cement, rerolled products ,ferrow alloys, pig iron,  cast iron pipes, transmission line towers, aluminium cables, cotton and jute yarn, fastners, chemicals, salt, fabrication and engineering and  mining  etc, thus  providing employment to about 10,000 direct and another 10,000 indirect employees and substantially  contributing  to the  State exchequer 

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.

1991-2006 (post liberalization period)

All directly managed units were converted into subsidiary companies and some joint venture companies were acquired by IDCOL from the private management and made subsidiary companies thus bringing them into direct management of IDCOL.

Keeping its pace with the change of time, IDCOL has taken measures on a regular basis for restructuring its man power and business   to consolidate its activities.

IDCOL has unlocked the value of assets of its subsidiary companies and has been able to clear all its external borrowings from Banks and Financial Institutions, thus making itself a debt free Corporation.