Adani Group and IHC to Invest $11.5 Billion in Odisha Aluminium Project
Adani Group and Abu Dhabi-based International Holding Company (IHC) have signed a Memorandum of Understanding with the Odisha government to jointly invest approximately $11.5 billion (₹1.08 lakh crore) in an integrated aluminium manufacturing ecosystem. The project includes a 4 million tonnes per annum alumina refinery, a 2 million tonnes per annum aluminium smelter, a 1 million tonnes downstream park, and a 4,000 MW captive power plant with a 400 MW green energy component. Expected to create over 53,000 jobs, the venture aims to boost India's aluminium production by nearly 50% and represents the largest foreign direct investment in India's metals sector. The investment will be executed in phases, with logistics supported by Dhamra Port, and is structured as a 50:50 joint venture between Adani Enterprises and IHC's subsidiary International Resources Holding.