India’s Adani Group has partnered with Abu Dhabi’s International Holding Company (IHC) to embark on a substantial $11.5 billion investment in Odisha, aimed at establishing a significant aluminium project. This ambitious venture will be executed through a 50:50 joint venture, combining the strengths of Adani Enterprises Limited (AEL) and International Resources Holding (IRH), an IHC group subsidiary operating via 2PointZero. Upon completion, the project is poised to become Odisha’s largest aluminium complex and a notable foreign direct investment in India’s metallurgy sector.
The integrated greenfield project is set to feature a substantial four-million-metric-tonnes-per-year alumina refinery, a two-million-metric-tonnes-per-year aluminium smelter, a 4,000-megawatt captive power plant, and a downstream manufacturing park designed to produce one million metric tonnes annually. The initiative will unfold in two phases, with the first phase allocated $6.9 billion and the second phase $4.6 billion. The partners plan to collaborate closely with the Odisha government to address land acquisition, regulatory approvals, and infrastructure development.
During its construction and operational phases, the project is anticipated to create approximately 53,500 jobs, further boosting indirect employment across sectors like logistics, engineering, maintenance, and related industries. The downstream manufacturing park aims to attract businesses involved in producing components for transportation, construction, power, packaging, renewable energy, and advanced engineering. The companies assert that this development will bolster India’s aluminium manufacturing ecosystem and support long-term industrial growth.
IHC’s investment aligns with its broader strategy of expanding globally in sectors poised to influence the future economy. The company is actively enhancing its presence in mining, energy, infrastructure, and technology, with IRH focusing on building an integrated minerals business essential for global energy transition. Earlier this year, ePointZero, another IHC group company, collaborated with Adani Green Energy to advance renewable energy projects across India, further solidifying the relationship between the two business groups.
This project supports India’s strategic objective to increase domestic aluminium production, as demand is projected to reach 8.5 million tonnes by the 2030 financial year. Odisha, known for its vast bauxite reserves and contribution of over half of India’s aluminium output, has emerged as a prime location for substantial investments in the sector. The proposed facility is expected to boost India’s manufacturing capacity, strengthen supply chains, and solidify the country’s position as a key player in the global aluminium market.