Adani Enterprises has signed a joint venture agreement with Abu Dhabi-based International Holding Company (IHC) to develop an $11.5 billion integrated aluminium project in Odisha, marking one of the largest foreign-backed industrial investments in India’s metals sector.
The project will be developed through a new joint venture with Adani Enterprises, holding a 70 per cent stake, with IHC holding the rest. Together, the companies plan to establish India’s largest integrated aluminium manufacturing facility.
The proposed investment includes Rs 46,000 crore for the aluminium plant and Rs 44,000 crore for a captive power facility, with a projected cost of nearly Rs 90,000 crore (approximately $11.5 billion).
The facility will comprise a 4 million tonnes per annum (MTPA) aluminium refinery, a 2 MTPA aluminium smelter, and a 4,500 MW captive power plant to support operations. Once functional, the complex is expected to produce around 3.5–3.8 million tonnes of aluminium annually.
According to Adani Enterprises, the project is expected to strengthen India’s aluminium manufacturing capabilities, supporting the country’s growing demand for the metal across infrastructure, transportation, renewable energy, and manufacturing sectors.
The company will work closely with the Odisha government to secure regulatory approvals and the development of necessary infrastructure for the project. Adani also plans to leverage its integrated resource and logistics network to improve operational efficiency and global competitiveness.
The Adani-IHC aluminium project represents one of the biggest industrial investments in Odisha and underscores foreign investors’ confidence in India’s manufacturing sector. Once completed, the project is expected to enhance domestic aluminium production and reinforce India’s position in the global metals value chain.
