India’s Adani Group has partnered with the Abu Dhabi-based International Holding Company (IHC) to undertake a substantial aluminium project in Odisha, located in eastern India. The two companies have agreed to invest $11.5 billion through a joint venture with equal stakes between Adani Enterprises Limited (AEL) and IHC’s International Resources Holding (IRH), which operates under 2PointZero. This initiative is set to establish the largest aluminium complex in Odisha and stands as one of the largest foreign direct investments in India’s metallurgy sector to date.
The ambitious greenfield project aims to construct a comprehensive industrial facility that will include a refinery with a capacity of four million metric tonnes of alumina per year, an aluminium smelter capable of producing two million metric tonnes annually, a 4,000-megawatt captive power plant, and a downstream manufacturing park projected to produce one million metric tonnes each year. The execution will occur in two phases, with $6.9 billion allocated for the initial phase and $4.6 billion for the subsequent one. The partnership will work closely with the Odisha government to navigate land acquisition, secure necessary regulatory approvals, and enhance infrastructure development.
Anticipated to create approximately 53,500 jobs during both the construction and operational phases, the project will also foster indirect employment across sectors like logistics, engineering, and maintenance. The downstream manufacturing park is designed to attract businesses involved in producing components for industries such as transportation, construction, power, packaging, renewable energy, and advanced engineering. This initiative is expected to bolster India’s aluminium manufacturing ecosystem, contributing to sustained industrial growth in the region.
IHC’s investment aligns with its broader strategy of global expansion in sectors poised to drive future economic growth. The company has been actively broadening its footprint across mining, energy, infrastructure, and technology, with IRH focusing on building a minerals business integral to the global energy transition. Earlier this year, IHC’s ePointZero collaborated with Adani Green Energy on renewable energy projects in India, further solidifying the strategic partnership between the two business entities.
This project also supports India’s strategic objective to increase domestic aluminium production, with demand projected to hit 8.5 million tonnes by the 2030 fiscal year. Odisha’s abundant bauxite reserves, which account for more than half of India’s aluminium production, make it an ideal location for such large-scale investments. The facility is expected to enhance India’s manufacturing capabilities, strengthen supply chains, and underscore the nation’s role as a significant player in the global aluminium industry.