Adani Group, IHC Propose ₹2,10,500 Crore Investment Across 14 Odisha Projects

Adani Group and Abu Dhabi-based International Holding Company (IHC) eye mega investment in Odisha. Both groups signed the agreements with the state government to develop 14 projects, across various sectors like mining and manufacturing, AI, health care and renewable energy. 

These projects involve a total proposed investment of ₹2,10,500 crore. The plans were also to create 189,700 direct or on-site jobs but are in part subject to more work and approvals. 

₹50,000 Crore AI Data Centre Tops List 

The biggest is a ₹50,000 crore hyperscale AI data centre hub at Naraj There has also been a proposal for a ₹40,000 crore coal-to-chemicals complex at Bedabahal. 

There are two projects for which an investment proposal of ₹25,000 crore each has been made. One focusses on a 60 million tonne per annum iron ore beneficiation, slurry and pellet chain, the other renewable energy storage and equipment manufacturing. 

Shipbuilding and Port Projects Form Another Part 

A ₹20,000 crore shipbuilding, repair and green ship recycling cluster is among the other major proposals. At Paradip, the proposed Adani-IHC joint venture plans to invest ₹10,000 crore in a petrochemical downstream and packaging park. 

The plans also include a ₹1,500 crore container manufacturing facility at Gopalpur and ₹5,000 crore of iron ore and coal trading operations through Dhamra and Gopalpur ports. 

Critical Minerals and Food Processing Included 

The proposed portfolio has a ₹5,000 crore rare earth corridor and critical minerals park, along with a ₹5,000 crore industrial park and SEZ at Dhamra. 

A separate ₹5,500 crore food and agro-processing park is planned to help Odisha's agricultural and processed-food products reach Gulf markets. 

Jobs Across Urban, Healthcare and Skill Projects 

The proposals include a ₹15,000 crore integrated sport, wellness and sustainable city, which is estimated to create 75,000 direct jobs. A ₹2,000 crore healthcare facility and ₹1,500 crore workforce development and skilling network are also part of the plans. 

Overall, the projects are estimated to generate another 402,000 indirect jobs and 277,000 construction jobs. 

Adani and Odisha Highlight Long-Term Plans 

Karan Adani said the proposals reflect confidence in Odisha as a manufacturing destination and highlighted jobs and value-added manufacturing. 

Chief Minister Mohan Charan Majhi said the state is seeking long-term investment in areas including critical minerals, metallurgy, port-led development and emerging industries. 

Investment Figures Still Indicative 

The ₹2,10,500 crore figure is not yet committed investment. The projects remain subject to feasibility studies, due diligence, statutory approvals and definitive agreements. 

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Conclusion 

The proposed Adani-IHC projects would give Odisha a sizeable pipeline of investments across traditional industries as well as newer areas such as AI and critical minerals.  

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