Adani Enterprises, UAE’s IHC to Invest ₹1.08 Lakh Crore in Odisha Aluminium Project
The 50:50 venture aims to build Odisha’s largest aluminium complex and create about 53,500 jobs, officials said.
- On Thursday, July 2, 2026, Adani Enterprises and International Resources Holding signed a Memorandum of Understanding with the Government of Odisha to invest $11.5 billion in an integrated greenfield aluminium project.
- Odisha, which accounts for 54% of India's aluminium output, will host the complex under the 50:50 joint venture, leveraging the state's significant bauxite reserves.
- The project comprises a 4 million MMTPA alumina refinery, a 2 million MMTPA aluminium smelter, and a downstream manufacturing park, expected to generate around 53,500 jobs.
- Odisha Chief Minister Mohan Charan Majhi said the investment enables the state to develop a "complete aluminium value chain," positioning it as a global centre for value-added manufacturing.
- Development will occur in two phases with investments of 66,000 crore and 44,000 crore, while Karan Adani, MD Adani Ports & SEZ, noted establishment will take about 3.5 years.
32 Articles
32 Articles
Indian, UAE groups ink pact for $11.5bn aluminium project in Odisha
India’s Adani Group and Abu Dhabi’s International Holding Company (IHC) are looking to invest $11.5 billion in a massive aluminum project in the eastern state of Odisha, the Indian conglomerate said on Thursday. The two parties signed a memorandum of understanding with the Odisha state government, Adani said in a statement, with the proposed investment set to be India’s “largest foreign direct investment in the metallurgy sector”. The statement …
Adani Enterprises, IHC's IRH to Invest USD 11.5 Billion in Odisha Aluminium Project
Get latest articles and stories on Business at LatestLY. Adani Enterprises Limited (AEL) and International Resources Holding (IRH), the Abu Dhabi-based natural resources investment platform through 2PointZero, on Thursday signed a Memorandum of Understanding (MoU) with the Government of Odisha to develop a USD 11.5 billion integrated greenfield aluminium project in the state. Business News | Adani Enterprises, IHC's IRH to Invest USD 11.5 Billio…
UAE’s IHC and Adani ink $11.5B aluminum deal
Abu Dhabi’s International Holding Company and India’s Adani Group agreed to invest $11.5 billion to build an aluminum complex in the eastern Indian state of Odisha, the latest sign of growing ties between the two countries.The UAE and India have been steadily strengthening their commercial, diplomatic, and security links in recent years, striking a free trade deal in 2022 and a defense pact earlier this year. The two countries’ leaders, Indian P…
Adani Enterprises, UAE’s IHC to invest ₹1.08 lakh crore in Odisha aluminium project
The proposed investment is expected to be Odisha’s largest Foreign Direct Investment (FDI) proposal and India’s largest foreign direct investment in the metallurgy sector, government of Odisha officials said
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