Adani and IRH to Launch $11.5 Billion Aluminium Project in Odisha

Jul 2, 2026

86 min

Jul 2, 2026 18:30

Adani Enterprises, IHC Group company IRH to form 50:50 joint venture for $11.5 billion aluminium project in Odisha

## Major Investment in Odisha

Adani Enterprises and International Resources Holding (IRH), part of the IHC Group, have announced a significant joint venture to develop a $11.5 billion aluminium project in Odisha, India. This initiative is set to be the largest foreign direct investment in the state's history and a major boost to India's metallurgy sector.

## Project Details

The project will include a 4 million metric tonnes per annum alumina refinery, a 2 million metric tonnes per annum aluminium smelter, a 4,000-megawatt captive power plant, and a 1 million metric tonnes per annum downstream manufacturing park. It aims to create approximately 53,500 jobs during construction and operation phases.

## Strategic Partnership

Adani Group and IHC have a history of collaboration, having previously partnered on renewable energy projects in India. This new venture further strengthens their strategic ties and aligns with IHC's investment strategy in India.

## Government Support

The Memorandum of Understanding was signed with the Government of Odisha, highlighting the state's commitment to becoming a global hub for aluminium manufacturing. The project is expected to enhance Odisha's position in the global aluminium supply chain and support the state's industrial growth.

## Economic Impact

The investment will not only create direct employment but also generate significant indirect jobs in sectors such as logistics, engineering, and maintenance. The downstream manufacturing park is expected to attract various manufacturers, supporting the growth of micro, small, and medium enterprises in the region.

## Future Prospects

Once operational, the project will strengthen India's aluminium manufacturing capabilities and reinforce Odisha's status as a prime destination for industrial investment in Asia. The joint venture partners will now focus on land acquisition, statutory approvals, and infrastructure planning to advance the project.

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