The Adani Group of India has teamed up with Abu Dhabi’s International Holding Company (IHC) to embark on a substantial $11.5 billion aluminium project in Odisha, located in eastern India. This ambitious venture will be executed through a 50:50 partnership between Adani Enterprises Limited and International Resources Holding, an IHC subsidiary operating under 2PointZero. Upon completion, the development is set to become the largest aluminium complex in Odisha and a standout in India’s metallurgy sector as one of the most significant foreign direct investment projects. The project is poised to include a sprawling greenfield facility with a four-million-metric-tonnes-per-year alumina refinery, a two-million-metric-tonnes-per-year aluminium smelter, a massive 4,000-megawatt captive power plant, and a downstream manufacturing park with a production capacity of one million metric tonnes annually.
Structured in two phases, the project will see an initial investment of $6.9 billion in the first phase, followed by $4.6 billion in the second. Adani and IHC plan to collaborate closely with the Odisha government to secure land, obtain necessary regulatory clearances, and develop the required infrastructure. The project is anticipated to generate approximately 53,500 jobs throughout its construction and operational phases, alongside creating vast indirect employment opportunities in sectors like logistics, engineering, and maintenance. Furthermore, the downstream manufacturing park aims to attract companies producing components for diverse industries such as transportation, construction, power, packaging, renewable energy, and advanced engineering, thereby bolstering India’s aluminium manufacturing capabilities and supporting its industrial growth trajectory.
IHC’s involvement in this project is a strategic move aligned with its global expansion goals in industries poised to shape the future economy. With a growing footprint in mining, energy, infrastructure, and technology, IHC is keen on building an integrated minerals business essential for the global energy transition. Earlier this year, ePointZero, another IHC group company, collaborated with Adani Green Energy to advance renewable energy projects across India, underscoring the strengthening ties between the two conglomerates. This new aluminium venture is expected to further cement their relationship while contributing to India’s objectives of boosting domestic aluminium production.
The development of this facility is also a step towards fulfilling India’s projected aluminium demand, which is expected to reach 8.5 million tonnes by the 2030 financial year. Odisha, with its substantial bauxite reserves and significant contribution to India’s aluminium output, has become a strategic hub for major investments in this sector. The proposed facility is not only expected to enhance India’s manufacturing capacity but also to fortify supply chains and reinforce the country’s status as a significant player in the global aluminium market.