India’s Adani Group has joined forces with Abu Dhabi’s International Holding Company (IHC) to launch an ambitious aluminium project in Odisha, India, valued at $11.5 billion. This significant venture will be executed through a 50:50 partnership between Adani Enterprises Limited and International Resources Holding, an IHC affiliate operating via 2PointZero. The project is set to become Odisha’s largest aluminium facility and stands as one of the most substantial foreign direct investments in India’s metallurgy sector.
The comprehensive greenfield development will feature a number of key components, including a four-million-metric-tonne-per-year alumina refinery and a two-million-metric-tonne-per-year aluminium smelter. Additionally, the project will house a 4,000-megawatt captive power plant and a downstream manufacturing park capable of producing one million metric tonnes annually. The initiative will unfold in two phases, with an initial investment of $6.9 billion and a subsequent $4.6 billion for the second phase. Adani and IHC are collaborating closely with Odisha’s government to secure land, regulatory approvals, and necessary infrastructure.
The massive investment is projected to create approximately 53,500 jobs during both construction and operational stages. Moreover, it promises significant ripple effects across sectors like logistics, engineering, and maintenance. The downstream manufacturing park is expected to attract companies from various industries, including transportation, construction, power, packaging, renewable energy, and advanced engineering. This venture is anticipated to bolster India’s aluminium manufacturing capabilities while promoting sustained industrial growth.
IHC has indicated that this investment aligns with its broader strategy to expand its global footprint in industries poised to drive future economic growth. The company is actively increasing its engagement in sectors such as mining, energy, infrastructure, and technology. Meanwhile, IRH is focusing on developing an integrated minerals business that supports the global shift toward sustainable energy. Earlier this year, another IHC entity, ePointZero, partnered with Adani Green Energy to develop renewable projects throughout India, further cementing the partnership between these business giants.
With India aiming to increase domestic aluminium production to meet an anticipated demand of 8.5 million tonnes by the 2030 financial year, this project supports national objectives. Odisha, which is rich in bauxite reserves and currently supplies more than half of India’s aluminium output, is strategically positioned to attract such large-scale investments. The new facility is not only expected to enhance India’s manufacturing capacity but also to strengthen supply chains, solidifying the country’s status as a formidable player in the global aluminium market.