India’s Adani Group is teaming up with the Abu Dhabi-based International Holding Company (IHC) to invest a substantial $11.5 billion in a groundbreaking aluminium project located in Odisha, a state in eastern India. This ambitious venture will be executed through a 50:50 joint venture formed between Adani Enterprises Limited (AEL) and International Resources Holding (IRH), a company within the IHC group that operates via 2PointZero. The completion of this project is anticipated to result in Odisha hosting the largest aluminium complex in the region, marking it as one of India’s most significant foreign direct investments in the metallurgy sector.
The project is set to be a comprehensive greenfield development, featuring a four-million-metric-tonnes-per-year alumina refinery and a two-million-metric-tonnes-per-year aluminium smelter. It will also include a 4,000-megawatt captive power plant alongside a downstream manufacturing park boasting an annual production capacity of one million metric tonnes. The rollout will occur in two phases, with $6.9 billion earmarked for the initial phase and $4.6 billion for the subsequent one. Essential collaboration with the Odisha government will focus on land acquisition, regulatory approvals, and infrastructure development, paving the way for this large-scale industrial initiative.
The investment is projected to generate approximately 53,500 jobs across both the construction and operational phases, with additional indirect employment opportunities arising in logistics, engineering, and maintenance sectors. The downstream manufacturing park is tailored to attract businesses across various industries, including transportation, construction, power, packaging, renewable energy, and advanced engineering. This development is poised to bolster India’s aluminium manufacturing capabilities, thus supporting sustained industrial growth within the nation.
Aligning with IHC’s global expansion strategy in future-oriented industries, this investment is part of a broader effort to build a robust presence in mining, energy, infrastructure, and technology sectors. IRH is committed to developing an integrated minerals business that focuses on resources central to the global energy transition. Earlier in the year, ePointZero, another IHC group company, collaborated with Adani Green Energy to advance renewable energy projects throughout India, further cementing the partnership between these business conglomerates.
This strategic project also aligns with India’s objective of boosting domestic aluminium production to meet the projected demand of 8.5 million tonnes by the 2030 financial year. Odisha, which is home to significant bauxite reserves and accounts for over half of India’s aluminium output, is an ideal location for these substantial investments in the aluminium sector. The proposed facility aims to enhance India’s manufacturing capacity, fortify supply chains, and elevate the country’s standing as a formidable player in the global aluminium market.
