₹1.08 Lakh Crore: Adani & IHC Strike Aluminium Gold in Odisha

Adani Enterprises and Abu Dhabi-based IHC Group have signed an MoU with the Odisha government to invest ₹1.08 lakh crore in developing an integrated aluminium manufacturing project, marking one of the largest foreign direct investments in India's metallurgy sector. The project, to be executed through a 50:50 joint venture with IHC's subsidiary 2PointZero, will cover the entire aluminium value chain—from bauxite mining and alumina refining to aluminium smelting and downstream manufacturing. The investment includes a 4 MTPA alumina refinery, a 2 MTPA aluminium smelter, a 4,000 MW captive power plant with 400 MW of green energy capacity, and a downstream manufacturing park. The integrated project is expected to generate around 53,500 employment opportunities during construction and operations while significantly strengthening Odisha's position as a leading aluminium production hub.

News by Rahul Yelligetti.