The Adani Group and UAE-based International Holding Company sign an MoU with the Odisha government to create a comprehensive aluminium ecosystem, including an alumina refinery, smelter, downstream park, and green power. The project aims to generate thousands of jobs and bolster Odisha’s resource-led industrial growth aligned with national development goals.
India
-Oneindia Staff
The Adani Group on Wednesday signed a landmark Memorandum of Understanding (MoU) with the Government of Odisha to set up an integrated aluminium ecosystem in the state, in partnership with UAE-based investment powerhouse International Holding Company (IHC). The project, with a proposed investment of USD 11.5 billion — nearly ₹1.08 lakh crore — is being billed as one of the largest aluminium sector investments anywhere in the world.
Addressing the gathering at the MoU signing ceremony, Adani Ports and SEZ CEO Karan Adani said the project marked the beginning of “a new economic chapter for Odisha,” one that would accelerate the state’s growth trajectory and, by extension, that of the country. The event was attended by Odisha Chief Minister Mohan Charan Majhi, state Industries Minister Sampad Charan Swain, senior officials of the Odisha government, and IHC Abu Dhabi MD and CEO Syed Basar Shueb.
The Adani Group and UAE-based International Holding Company sign an MoU with the Odisha government to create a comprehensive aluminium ecosystem, including an alumina refinery, smelter, downstream park, and green power. The project aims to generate thousands of jobs and bolster Odisha’s resource-led industrial growth aligned with national development goals.
According to Karan Adani, the project will integrate the entire aluminium value chain at a single location. This includes an alumina refinery with a capacity of nearly 4 million tonnes per annum, an aluminium smelter of close to 2 million tonnes per annum, and a downstream aluminium park with a capacity of around 1 million tonnes per annum. The facility will be backed by a captive power plant of about 4,000 megawatts, along with a green energy component of roughly 400 megawatts.
*Jobs and Economic Impact*
The project is expected to generate close to 35,000 jobs during the construction phase and support around 18,500 jobs once operational. Karan Adani said each of these numbers represented real opportunities — for families, young people acquiring new skills, local entrepreneurs, and small businesses across the state.
*Odisha’s Resource Strength Highlighted*
In his address, Karan Adani pointed to Odisha’s mineral wealth as a key strategic advantage for the country’s industrial future. He noted that the state holds the country’s largest bauxite reserves, more than half of India’s iron ore reserves, substantial coal deposits, and significant reserves of chromite, manganese, limestone and dolomite. He said this resource base, combined with proactive policy support from the state government, was helping Odisha transition from a raw material supplier to a value-added manufacturing hub.
*Aligning with Viksit Bharat Vision*
Linking the project to the Centre’s Viksit Bharat 2047 mission, Karan Adani said achieving a developed India would require a developed and prosperous Odisha — one that adds value to its natural resources, builds world-class manufacturing capacity, and creates large-scale employment for its youth. He added that Adani Group Chairman Gautam Adani has long viewed Odisha as central to eastern India’s economic growth story, describing the state’s potential in terms of resilience, destiny and leadership in India’s next phase of industrial expansion.
Karan Adani concluded his address by thanking the Odisha government for its vision and reiterating the group’s commitment to the state, stating that the project was designed to benefit local communities, strengthen the regional economy and support entrepreneurs across Odisha.
