Adani Enterprises and IHC Group Company IRH to form a 50:50 Joint Venture for USD 11.5 Billion Aluminium Project, Positioning Odisha in the Global Aluminium Supply Chain
Synopsis
- Adani Enterprises Limited (AEL) and International Resources Holding (IRH), an IHC Group company through 2PointZero, will form a 50:50 joint venture to develop a USD 11.5 billion integrated greenfield aluminium project in Odisha.
- The project comprises a 4 million metric tonnes per annum (MMTPA) alumina refinery, 2 MMTPA aluminium smelter and 1 MMTPA downstream manufacturing park, making it India’s largest integrated aluminium investment.
- The greenfield project will be developed in two phases with investments of ₹66,000 crore and ₹44,000 crore, making it Odisha’s largest Foreign Direct Investment (FDI) proposal.
- The investment is expected to create 53,500 jobs and position Odisha as a global aluminium manufacturing hub.
Bhubaneswar, India – July 2, 2026: Adani Enterprises Limited (AEL), the flagship company of the Adani Group, and International Resources Holding (IRH), the Abu Dhabi-based natural resources investment platform and an IHC Group company through 2PointZero, today signed a Memorandum of Understanding (MoU) with the Government of Odisha to develop an integrated greenfield aluminium project in the mineral-rich state.
AEL and IHC, through its subsidiary IRH, will form a 50:50 joint venture for the proposed project.
The proposed investment, valued at approximately ₹1.08 lakh crore (USD 11.5 billion), is expected to be Odisha’s largest Foreign Direct Investment (FDI) proposal and India’s largest foreign direct investment in the metallurgy sector. The project comprises a 4 million metric tonnes per annum (MMTPA) alumina refinery, a 2 MMTPA aluminium smelter, a 4,000-megawatt (MW) captive power plant and a 1 MMTPA downstream manufacturing park, supported by enabling infrastructure. It is expected to generate around 53,500 jobs across construction and operations.
UAE News 24/7 