Odisha Secures Record Rs 1.10 Lakh Crore Aluminium Investment From IHC-Adani JV
Bhubaneswar : In a major boost to Odisha’s industrial ambitions, the State government on Thursday formalized an investment agreement with UAE-based International Holding Company (IHC) and Adani Group for setting up of a mega integrated aluminum complex involving an estimated investment of Rs 1.10 lakh crore.
Officials described the proposal as the largest foreign direct investment (FDI) commitment Odisha has ever received and one of the most significant investments in India’s non-ferrous metals sector.
The Memorandum of Understanding (MoU) was signed between Odisha Industrial Promotion and Investment Corporation (IPICOL) and IHC in the presence of Chief Minister Mohan Charan Majhi, senior government officials and representatives of the two business groups.
The project will be developed through a 50:50 joint venture between Adani Enterprises Ltd and International Resources Holding (IRH), the mining and resources arm of Abu Dhabi-based IHC Group. The investment will be financed through a combination of equity and debt.
Designed as a fully integrated aluminum value chain, the proposed project will support a 4 million tonnes per annum alumina refinery, a 2 million tonnes per annum aluminum smelter, a 4,000 MW power plant, a 1 million tonnes per annum aluminum production park, as well as industrial and logistics infrastructure.
The integrated plant is expected to significantly strengthen Odisha’s position as India’s leading aluminum producing state by expanding domestic refining and smelting capacity while promoting value-added manufacturing.
Government officials said the project has the potential to create approximately 53,500 direct and indirect employment opportunities covering mining operations, alumina refining, aluminum production, downstream industries, logistics and ancillary services.
The investment is also in line with Odisha’s broader strategy to attract large-scale industrial projects that leverage the state’s abundant mineral resources while strengthening manufacturing, exports and employment generation.
Odisha, which has one of the richest bauxite reserves in the country and a well-established ecosystem for metal industries, has emerged as a preferred destination for global investors seeking long-term opportunities in the aluminum sector. The proposed project is expected to further consolidate the role of the State in India’s evolving industrial and energy transition environment.
