Odisha to Host India's Largest FDI Aluminium Project with Adani-IRH JV

Adani Enterprises Limited and International Resources Holding signed an MoU with the Government of Odisha for a USD 11.5 billion aluminium project. The venture, forming India's largest FDI in metallurgy, aims to develop a comprehensive aluminium value chain, creating 53,500 jobs and boosting Odisha's industrial growth.

In a significant development for India's metallurgy sector, Adani Enterprises Limited and Abu Dhabi-based International Resources Holding, via 2PointZero, have joined forces with the Government of Odisha. The groundbreaking MoU aims to establish a USD 11.5 billion greenfield aluminium project in Odisha, marking the state's largest foreign direct investment (FDI) venture.

The ambitious project will feature an array of infrastructure, including a 4 MMTPA alumina refinery, a 2 MMTPA aluminium smelter, and a 4,000-megawatt captive power plant. Additionally, a 1 MMTPA downstream manufacturing park is planned. This project will proceed in two phases, requiring investments of Rs 66,000 crore and Rs 44,000 crore, respectively.

With an expected 53,500 jobs to be created, the project promises significant employment opportunities during its construction and operational phases. The venture is set to redefine Odisha's standing in the global aluminium market, supported by the state's rich bauxite reserves and robust industrial ecosystem. The state government has pledged swift approval processes to ensure the project's timely progression.