The Adani Group from India and Abu Dhabi’s International Holding Company (IHC) have taken a significant step towards developing a major aluminium project in Odisha, eastern India, by signing a preliminary agreement to invest $11.5 billion. This ambitious venture will be executed through a 50:50 joint venture involving Adani Enterprises Limited (AEL) and International Resources Holding (IRH), which is part of IHC’s operations under 2PointZero. Upon completion, it is poised to become the largest aluminium complex in Odisha and stands as one of the most substantial foreign direct investment projects in India’s metallurgy sector.
This greenfield project is set to feature an integrated structure comprising an alumina refinery with an annual capacity of four million metric tonnes, an aluminium smelter capable of producing two million metric tonnes per year, a 4,000-megawatt captive power plant, and a downstream manufacturing park with a one million metric tonnes yearly output. The development will occur in two phases, with $6.9 billion allocated for the initial phase and $4.6 billion for the subsequent phase. The collaboration will focus on acquiring land, securing regulatory approvals, and developing the necessary infrastructure in close coordination with the Odisha government.
Once operational, the project is anticipated to generate approximately 53,500 jobs during both the construction and operational phases, along with substantial indirect employment opportunities in sectors such as logistics, engineering, maintenance, and related fields. The downstream manufacturing park aims to attract companies that produce components for industries like transportation, construction, power, packaging, renewable energy, and advanced engineering. The companies involved assert that the project will bolster India’s aluminium manufacturing ecosystem and contribute to the country’s long-term industrial growth.
IHC has expressed that this investment aligns with its broader strategy of global expansion in future-oriented industries. The company has been increasingly active in sectors such as mining, energy, infrastructure, and technology, with IRH focusing on building an integrated minerals business essential for the global energy transition. Earlier this year, IHC’s ePointZero joined forces with Adani Green Energy to develop renewable energy initiatives across India, further cementing the partnership between these business groups.
The proposed project is also a strategic move to support India’s objective of boosting domestic aluminium production, with demand expected to reach 8.5 million tonnes by the 2030 financial year. Odisha, known for its vast bauxite reserves and significant contribution to India’s aluminium output, has become a prime location for large-scale investments in this sector. The completion of this facility is expected to enhance India’s manufacturing capabilities, strengthen supply chains, and reinforce its position as a significant player in the global aluminium industry.