The Adani Group from India and Abu Dhabi’s International Holding Company (IHC) have forged a preliminary agreement to jointly invest $11.5 billion in a significant aluminium project in Odisha, India. This venture will be a 50:50 joint enterprise between Adani Enterprises Limited (AEL) and International Resources Holding (IRH), an IHC group company operating through 2PointZero. Upon completion, the development is poised to become the largest aluminium complex in Odisha and one of India’s most substantial foreign direct investments in the metallurgy sector.
The project will feature an integrated greenfield development that includes a refinery capable of producing four million metric tonnes of alumina annually, a smelter with a two-million-metric-tonnes-per-year capacity, a 4,000-megawatt captive power plant, and a downstream manufacturing park with an annual output of one million metric tonnes. The development will unfold in two phases, with an allocation of $6.9 billion for the first phase and $4.6 billion for the second. Both companies will collaborate closely with the Odisha government to facilitate land acquisition, regulatory approvals, and infrastructure development.
Expected to generate around 53,500 jobs during its construction and operational phases, the investment will also spur indirect employment across logistics, engineering, maintenance, and related industries. The downstream manufacturing park is designed to lure businesses producing components for transportation, construction, power, packaging, renewable energy, and advanced engineering sectors. The project is envisioned to bolster India’s aluminium manufacturing ecosystem while underpinning long-term industrial growth.
IHC’s investment strategy focuses on expanding its global footprint in industries shaping the future economy. The company has been steadily increasing its presence in mining, energy, infrastructure, and technology sectors, with IRH continuing to build an integrated minerals business centered on resources crucial for the global energy transition. Earlier in the year, another IHC group company, ePointZero, partnered with Adani Green Energy to develop renewable energy projects across India, further deepening the collaboration between these business entities.
This project aligns with India’s objective to boost domestic aluminium production, with demand expected to reach 8.5 million tonnes by the 2030 financial year. Odisha, home to some of the country’s largest bauxite reserves and contributing over half of India’s aluminium output, has become a strategic hub for large-scale sector investments. The proposed facility aims to enhance India’s manufacturing capacity, fortify supply chains, and consolidate the nation’s status as a major player in the global aluminium industry.