India’s Adani Group has joined forces with Abu Dhabi’s International Holding Company (IHC) to embark on a significant $11.5 billion aluminium project in Odisha, a state in eastern India. The ambitious undertaking will be carried out through a 50:50 joint venture involving Adani Enterprises Limited (AEL) and International Resources Holding (IRH), an IHC group entity operating under 2PointZero. Upon completion, this development is set to become the largest aluminium complex in Odisha and one of the most substantial foreign direct investments in India’s metallurgy sector.
The project encompasses an integrated greenfield site featuring a four-million-metric-tonnes-per-year alumina refinery and a two-million-metric-tonnes-per-year aluminium smelter. Additionally, it will include a 4,000-megawatt captive power plant and a downstream manufacturing park capable of producing one million metric tonnes annually. The project is slated for implementation in two phases, with $6.9 billion earmarked for the initial phase and $4.6 billion for the subsequent phase. The partners are now collaborating closely with the Odisha government on land acquisition, regulatory approvals, and infrastructure development.
With the potential to create approximately 53,500 jobs during both construction and operational phases, the investment is also expected to spur significant indirect employment in sectors like logistics, engineering, and maintenance. The downstream manufacturing park is designed to attract businesses focused on producing components for various sectors, including transportation, construction, power, packaging, renewable energy, and advanced engineering. The companies involved believe the project will bolster India’s aluminium manufacturing ecosystem and support sustained industrial growth.
IHC has emphasized that this investment aligns with its global expansion strategy, focusing on industries poised to shape the future economy. The company has been steadily increasing its footprint in mining, energy, infrastructure, and technology sectors. Simultaneously, IRH is developing an integrated minerals business centered on resources vital for the global energy transition. Earlier this year, another IHC subsidiary, ePointZero, collaborated with Adani Green Energy to advance renewable energy projects in India, further solidifying the partnership between these business groups.
This project also aligns with India’s objective of increasing domestic aluminium production, with demand expected to reach 8.5 million tonnes by the 2030 financial year. Odisha, home to some of India’s largest bauxite reserves and responsible for over half of the nation’s aluminium output, has become a key location for significant investments in the sector. The proposed facility aims to enhance India’s manufacturing capacity, strengthen supply chains, and affirm the country’s status as a major player in the global aluminium industry.