India’s Adani Group has partnered with International Holding Company (IHC) from Abu Dhabi to embark on a significant $11.5 billion aluminium venture in Odisha, eastern India. The ambitious project will be managed through a 50:50 joint venture between Adani Enterprises Limited (AEL) and International Resources Holding (IRH), a subsidiary of IHC operating via 2PointZero. This development aims to establish Odisha’s largest aluminium complex and mark one of India’s most substantial foreign direct investments in the metallurgy sector.
The project will encompass an integrated greenfield site, featuring a four-million-metric-tonnes-per-year alumina refinery, a two-million-metric-tonnes-per-year aluminium smelter, a 4,000-megawatt captive power plant, and a downstream manufacturing park with a production capacity of one million metric tonnes annually. It is set to proceed in two phases, with the initial phase receiving $6.9 billion and the subsequent phase $4.6 billion. Adani and IHC are poised to collaborate closely with the Odisha government on acquiring land, securing regulatory approvals, and developing necessary infrastructure.
Anticipated to create approximately 53,500 jobs during its construction and operational phases, the project will also spur indirect employment in logistics, engineering, maintenance, and other related fields. The downstream manufacturing park is intended to attract businesses producing components for various sectors, including transportation, construction, power, packaging, renewable energy, and advanced engineering. The partners believe this initiative will bolster India’s aluminium manufacturing ecosystem and contribute to sustained industrial growth.
IHC’s investment aligns with its strategic goal of expanding in industries poised to drive the future economy, as the company strengthens its presence in mining, energy, infrastructure, and technology. IRH is concurrently building an integrated minerals business focused on resources vital for the global energy transition. Earlier in the year, IHC’s ePointZero teamed up with Adani Green Energy to develop renewable energy projects across India, highlighting the ongoing collaboration between the two business entities.
The venture supports India’s objective to increase domestic aluminium production, with demand projected to reach 8.5 million tonnes by the 2030 financial year. Odisha, home to some of India’s largest bauxite reserves and responsible for more than half of the nation’s aluminium output, has emerged as a strategic hub for substantial investments in the sector. The proposed facility is expected to enhance India’s manufacturing capabilities, strengthen supply chains, and solidify the country’s standing as a significant player in the global aluminium industry.