In a monumental development for India’s metals and mining sector, the Adani Group and Abu Dhabi’s International Holding Company (IHC) have officially joined forces. The two economic heavyweights signed a Memorandum of Understanding with the state government of Odisha to establish a massive, integrated greenfield aluminium project. Valued at $11.5 billion—or approximately ₹1.08 lakh crore—the mega-venture marks India’s largest-ever foreign direct investment in metallurgy and mining.
The 50:50 joint venture is designed as a complete, integrated industrial ecosystem. According to state officials, the infrastructure will feature a 4-million-tonne-per-annum alumina refinery, a 2-million-tonne aluminium smelter, and a 1-million-tonne downstream manufacturing park. This massive industrial load will be backed by a dedicated 4,000-megawatt captive power plant, which includes a 400-megawatt green energy component to prioritize sustainability.
Crucially, the mega-project is poised to reshape the economic landscape of eastern India. Officials project the venture will generate over 53,000 livelihoods, creating roughly 35,000 jobs during the construction phase and another 18,500 permanent positions once commercial operations commence. Strategically located to utilize Odisha’s world-class bauxite reserves, the plant aims to boost India’s total domestic aluminium capacity by nearly 50 percent. This high-profile collaboration highlights India’s accelerating transition into a global value-added manufacturing hub while drastically slashing the country’s reliance on expensive commodity imports.
