India’s Adani Group and the Abu Dhabi-based International Holding Company (IHC) are set to collaborate on a significant $11.5 billion aluminium project in Odisha, marking a major milestone in the country’s metallurgy sector. This ambitious venture will be executed through a 50:50 joint partnership between Adani Enterprises Limited (AEL) and International Resources Holding (IRH), a subsidiary of IHC operating via 2PointZero. Upon completion, the project is poised to become Odisha’s largest aluminium complex and a major foreign direct investment initiative in India.
The planned greenfield development will feature a diverse array of facilities, including a four-million-metric-tonnes-per-year alumina refinery, a two-million-metric-tonnes-per-year aluminium smelter, and a 4,000-megawatt captive power plant. Additionally, it will house a downstream manufacturing park with a production capacity of one million metric tonnes annually. The project will be rolled out in two phases, with the first phase receiving approximately $6.9 billion in funding, followed by $4.6 billion for the second. The partners are currently engaging with the Odisha government to address land acquisition, regulatory approvals, and necessary infrastructure development.
The initiative is anticipated to generate about 53,500 jobs during its construction and operational phases and to spur indirect employment in sectors such as logistics, engineering, and maintenance. The downstream manufacturing park aims to attract companies producing components for industries like transportation, construction, power, packaging, renewable energy, and advanced engineering. The companies involved expect the project to bolster India’s aluminium manufacturing ecosystem and contribute to sustained industrial growth.
IHC has stated that this investment aligns with its global expansion strategy, focusing on industries pivotal to the future economy. The company has been actively increasing its footprint in mining, energy, infrastructure, and technology sectors. Meanwhile, IRH is committed to building an integrated minerals business, concentrating on resources vital for the global energy transition. Earlier this year, ePointZero, another IHC group company, joined forces with Adani Green Energy to develop renewable energy projects across India, further cementing the partnership between the two groups.
This new aluminium complex supports India’s strategy to boost domestic production to meet the projected demand of 8.5 million tonnes by the 2030 financial year. Odisha, with its substantial bauxite reserves and a significant contribution to India’s aluminium output, stands as a strategic investment location. The proposed facility is expected to enhance manufacturing capacity, strengthen supply chains, and solidify India’s position in the global aluminium market.