In a major boost to India's heavy industries and metallurgy sectors, Adani Enterprises Ltd. (AEL) and Abu Dhabi-based International Resources Holding (IRH) have joined forces to establish a massive $11.5 billion (approximately Rs 1.08 lakh crore) integrated greenfield aluminium project in Odisha. The flagship company of the Adani Group and IRH, the natural resources investment platform of International Holding Company (IHC) Group through 2PointZero-have signed a Memorandum of Understanding (MoU) with the Government of Odisha to clear the deck for a 50:50 joint venture.
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The mega-investment marks a historic milestone for the region, registering as the largest foreign direct investment (FDI) proposal for Odisha, as well as India's largest-ever foreign direct investment in the metallurgy sector. The greenfield infrastructure initiative is designed as a fully integrated ecosystem, utilizing Odisha's rich mineral reserves to cover the entire value chain from refining to manufacturing. The investment will be deployed in two distinct operational phases:
- Phase I Investment: Approximately Rs 66,000 crore
- Phase II Investment: Approximately Rs 44,000 crore
Adani-IHC MoU Facility, Capacity
The complex will feature a comprehensive blueprint supporting critical processing, energy generation, and commercial downstream manufacturing capacities. The integration of a dedicated 1 MMTPA downstream manufacturing park is structurally positioned to benefit local micro, small, and medium enterprises (MSMEs). The park aims to attract businesses fabricator-ready to build advanced components across key commercial segments, including:
- Renewable energy infrastructure
- Automotive and transport engineering
- Advanced engineering and packaging
- Industrial power and building construction
''This project brings together the full aluminium value chain in one integrated ecosystem. It envisages an alumina refinery of nearly four million tonnes per annum, an aluminium smelter of nearly two million tonnes per annum, and a downstream aluminium park of nearly one million tonnes per annum. It will be supported by a captive power capacity of about 4,000 megawatts and a green energy component of about 400 megawatts. These numbers are not merely statistics. They represent the foundation of a new industrial future. During construction, this project will generate nearly 35,000 jobs. During operations, it will support around 18,500 jobs,'' said Karan Adani, Managing Director of Adani Ports & SEZ Ltd (APSEZ).
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Beyond industrial processing, the JV is projected to act as a monumental employment engine, generating an estimated 53,500 jobs across its implementation and permanent production life cycles. The labor rollout expects to see 35,000 positions during the initial intensive construction periods, alongside an additional 18,500 permanent operational roles spanning mining, refining, and smelting divisions. Indirect employment is also anticipated in logistics, maintenance, and ancillary engineering operations.
Syed Basar Shueb, CEO of IHC, added that the venture perfectly mirrors their macro-strategy: "Through IRH, we are building an integrated mining and minerals business, investing across critical minerals to support industrial development, strengthen supply chain resilience and advance the energy transition." After the formalization of the MoU, Adani Enterprises, IRH, and state authorities are slated to transition into immediate project execution workflows. Joint efforts will focus on rapid-track landscape planning, local land acquisition processes, and securing the necessary statutory and environmental clearances.
Watch Video: Karan Adani speaks at Odisha Govt-Adani-IHC MoU signing
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
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