India’s Adani Group has teamed up with Abu Dhabi’s International Holding Company (IHC) to jointly invest $11.5 billion in a significant aluminium project in Odisha, India. Formalized through a preliminary agreement, this venture will be managed by a 50:50 joint venture between Adani Enterprises Limited (AEL) and International Resources Holding (IRH), an IHC subsidiary operating via 2PointZero. The project aims to establish Odisha’s largest aluminium complex and is positioned as one of the largest foreign direct investment initiatives in India’s metallurgy sector.
The undertaking includes an integrated greenfield development comprising a four-million-metric-tonnes-per-year alumina refinery and a two-million-metric-tonnes-per-year aluminium smelter. Additionally, it will feature a 4,000-megawatt captive power plant and a downstream manufacturing park with an annual capacity of one million metric tonnes. The project’s phased implementation involves a financial commitment of $6.9 billion for the first phase and $4.6 billion for the second. The partners plan to collaborate closely with the Odisha government to address land acquisition, regulatory approvals, and infrastructure development.
This substantial investment is projected to generate approximately 53,500 jobs throughout the construction and operational phases, alongside significant indirect employment in logistics, engineering, and related industries. The downstream manufacturing park is intended to attract businesses producing components for sectors such as transportation, construction, power, packaging, renewable energy, and advanced engineering. The companies emphasize that this project will bolster India’s aluminium manufacturing ecosystem and support long-term industrial growth.
IHC’s decision aligns with its global expansion strategy in industries anticipated to drive the future economy. The company is expanding its footprint across mining, energy, infrastructure, and technology sectors, while IRH continues to develop an integrated minerals business critical to the global energy transition. Earlier this year, ePointZero, another IHC group company, collaborated with Adani Green Energy to advance renewable energy projects in India, further cementing the relationship between the two business groups.
The project also aligns with India’s ambition to boost domestic aluminium production, with demand expected to reach 8.5 million tonnes by the 2030 financial year. Odisha, home to some of India’s largest bauxite reserves and accounting for over half of the nation’s aluminium output, has emerged as a key location for substantial investments in the sector. This proposed facility is set to enhance India’s manufacturing capacity, reinforce supply chains, and solidify the country’s position as a significant player in the global aluminium market.