Synopsis: Adani Enterprises and International Holding Company (IHC), based in Abu Dhabi, have signed a deal to build a ₹1.08 lakh crore ($11.5 billion) integrated aluminium project in the state. The project is expected to generate more than 53,500 employment opportunities while contributing to building India’s aluminium value chain.
In a huge step towards developing its manufacturing industry, Adani Enterprises Limited in partnership with the Abu Dhabi headquartered International Holding Company (IHC) is set to build an integrated aluminum complex in the state of Odisha worth ₹1.08 lakh crore ($11.5 billion). The new venture will not only mark the first venture by Adani into aluminum but will also emerge as one of the largest foreign investments in India’s metallurgy industry. It is planned to be developed as an integrated ecosystem including refining, smelting, and downstream manufacturing processes. The project marks Adani Group’s formal entry into aluminium manufacturing and is among India’s largest proposed FDI-led industrial investments in the metals sector.
Adani-IHC Sign MoU with Odisha Government
Adani Enterprises and International Resources Holding (IRH), the mining arm of IHC, signed a Memorandum of Understanding (MoU) with the Government of Odisha to develop the project. The signing marks a major step in strengthening India–UAE industrial cooperation and Odisha’s position as an investment hub. The proposed project carries an estimated investment of $11.5 billion (around ₹1.08 lakh crore). The investment will be implemented in two phases:
- Phase I: Approximately ₹66,000 crore
- Phase II: Approximately ₹44,000 crore
This project will be implemented in a joint venture by Adani Enterprises and International Resources Holding (IRH). As per Karan Adani, it will take about 12-18 months to acquire land, environmental permissions, and statutory clearances for the project, followed by an additional 3.5 years to build the project.
Integrated Aluminium Ecosystem Planned in Odisha:
Unlike a standalone aluminium plant, the project aims to establish an end-to-end aluminium manufacturing ecosystem. The proposed facilities include:
- 4 MMTPA Alumina Refinery
- 2 MMTPA Aluminium Smelter
- 4,000 MW Captive Power Plant
- 1 MMTPA Downstream Aluminium Manufacturing Park
- Around 400 MW Green Energy Capacity
The downstream manufacturing complex will house a number of additional ancillary industries and MSMEs engaged in the production of components for the automobile industry, electrical products, packaging, construction material, and engineering products. The intention here is to make use of mining, smelting, and manufacturing processes at one site in order to lessen India’s reliance on imports of aluminium products.
Project at a Glance
- Total Investment: ₹1.08 lakh crore ($11.5 billion)
- Phases: Phase I – ₹66,000 crore | Phase II – ₹44,000 crore
- Capacity: 4 MMTPA alumina refinery, 2 MMTPA aluminium smelter
- Power: 4,000 MW captive power plant + 400 MW green energy
- Downstream Park: 1 MMTPA aluminium manufacturing ecosystem
- Jobs: 53,500+ (direct + indirect)
- Execution Model: Adani Enterprises + IRH (IHC arm) JV
- Timeline: 12–18 months approvals, Approximate 3.5 years construction
More Than 53,500 Jobs Expected
The planned aluminium project will be one of the biggest industrial projects creating employment opportunities in Odisha. It will create about 35,000 job opportunities during its development process while during the operation process, it will create an estimated 18,500 job opportunities. On average, the project will create employment opportunities totaling over 53,500 in total between direct and indirect jobs along the aluminum supply chain. Apart from job opportunities that will be created directly, the development of the project will trigger the creation of many indirect job opportunities in areas such as mining, logistics, transport, machinery manufacturing, and construction, among others.
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Why Odisha Was Chosen
Odisha has been able to establish itself as an important state for aluminum and metals industries because of its natural resource endowment and industrial development. Bauxite is found in abundance in the state along with availability of other important minerals like coal, iron, and limestone which are used in aluminum production. Its geographical location and improved port connectivity provide a conducive environment for industrial operations. Moreover, the friendly policies of the state and industrial clusters make Odisha an important choice for investment.
Builds on Growing Adani-IHC Partnership
The aluminium initiative marks yet another stepping stone in the growing partnership between Adani Group and IHC. Back in early 2026, the IHC-backed company ePointZero had partnered up with Adani Green Energy for renewable energy initiatives in India. The current partnership through IRH represents the next step in the relationship between the two companies, as well as part of IHC’s overall multi-billion dollar plan in India.
International Holding Company (IHC)
International Holding Company (IHC) is based in Abu Dhabi and is one of the largest investment groups in the world, with a market capitalization of about $233 billion. IHC has more than 1,300 subsidiaries spread across diverse industries such as infrastructure, mining, technology, health care, finance, agriculture, and consumer products. The mining arm of IHC, International Resources Holding (IRH), makes strategic investments in minerals and natural resources worldwide.
What This Means for India’s Aluminium Industry
The ₹1.08 lakh crore ($11.5 billion) project is likely to help build up a stronger aluminium manufacturing ecosystem in India, as it will be based on an end-to-end value chain that involves refining of alumina, aluminium smelting, and manufacturing. With rising demand for aluminium from sectors such as infrastructure, renewable energy, EVs, and defence, the project is likely to help boost local manufacturing of aluminium and minimize reliance on imports of value-added aluminium products. The project will lead to:
- Expand alumina and aluminium production in the country.
- Decrease imports of value-added aluminium products.
- Sustain high-growth areas like EVs, renewable energy, power transmission and defence and infrastructure.
- Encourage growth of MSME’s in the Downstream Aluminium Manufacturing Park and ancillary industries.
- Create employment opportunities and fuel industrial growth on the state scale in Odisha.
The project further supports the Government of India’s vision of ‘Make in India’ and ‘Viksit Bharat 2047’ by building India’s manufacturing capability and providing foreign investment for the aluminium industry.
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Future Outlook
A successful implementation of Adani-IHC can go down in history as a landmark project for the Indian aluminum industry and will help in increasing the production of aluminium in India, creating jobs, and making Odisha one of the largest manufacturing hubs in the country. For this, the project requires timely clearance, successful implementation, and sustained demand for aluminium to succeed.while contributing to the vision of Make in India and Viksit Bharat 2047.
