Adani Group, Abu Dhabi's IHC to Invest $11.5 Billion in Odisha Aluminium Project

Abu Dhabi's International Holding Company (IHC) and Adani Group have signed a Memorandum of Understanding (MoU) to jointly invest $11.5 billion in an integrated aluminium project in Odisha. 

The proposed project is expected to become India's largest foreign investment in the metals sector and will strengthen the country's aluminium production capacity to meet rising domestic demand. 

IHC, Adani Group to Set Up Aluminium Project 

Under the MoU, IHC and Adani Group will each hold a 50% stake in the joint venture. 

The integrated project will include an alumina refinery, an aluminium smelter, a captive power plant and a downstream aluminium manufacturing park. 

Project To Be Developed in Odisha 

The project will be established in Odisha, which accounts for around 54% of India's aluminium production owing to its large bauxite reserves. 

The investment is aimed at expanding domestic aluminium production to support demand from infrastructure, power, transport and renewable energy sectors while reducing dependence on imports of value-added aluminium products. 

Project to Create Over 53,500 Jobs 

The proposed aluminium complex is expected to generate around 53,500 jobs. 

Of these, approximately 35,000 jobs are expected during the construction phase, while another 18,500 jobs will be created once commercial operations commence. 

Odisha's Largest Aluminium Complex 

The project will house Odisha's largest aluminium complex. 

It will comprise an alumina refinery with a capacity of 4 million metric tonnes per annum (MTPA), an aluminium smelter with a capacity of 2 MTPA and downstream aluminium manufacturing facilities with a capacity of 1 MTPA. 

Read More: Adani Ports Share Price in Focus as Q1 FY27 Cargo Volume Rises 15% to 138.1 MMT! 

Conclusion 

The proposed $11.5 billion investment by Abu Dhabi's IHC and Adani Group marks a significant step in expanding India's aluminium manufacturing ecosystem. The integrated project is expected to enhance domestic production capacity, create substantial employment and strengthen Odisha's position as a key hub for the country's aluminium industry. 

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