Adani Enterprises and IHC Group Partner on USD 11.5 Billion Integrated Aluminium Project in Odisha

Adani Enterprises and IHC Group Partner on USD 11.5 Billion Integrated Aluminium Project in Odisha​

Adani Enterprises Limited (AEL) and International Resources Holding (IRH), an IHC Group company through 2PointZero, have formalized a partnership to develop a massive integrated greenfield aluminium project in the mineral-rich state of Odisha. The companies signed a Memorandum of Understanding (MoU) with the Government of Odisha for the proposed venture, which is set to establish a significant presence in the global aluminium supply chain.

The joint venture aims to invest approximately ₹ 1.08 lakh crore, valued at USD 11.5 billion. This investment is expected to be Odisha's largest Foreign Direct Investment (FDI) proposal and India's largest foreign direct investment in the metallurgy sector.

Project Scope and Economic Impact​

The proposed integrated project is comprehensive, designed to create a complete aluminium value chain within the state. Key components include a 4 million metric tonnes per annum (MMTPA) alumina refinery, a 2 MMTPA aluminium smelter, and a 1 MMTPA downstream manufacturing park. The facility will also incorporate a 4,000-megawatt (MW) captive power plant and supporting enabling infrastructure.

The project is slated to generate substantial employment opportunities, with an estimated 53,500 jobs projected across both construction and operational phases.

Investment details for the multi-phase development are outlined below:


The downstream manufacturing park is expected to attract producers of components for transport, construction, power, packaging, renewable energy, and advanced engineering, thereby supporting the growth of micro, small, and medium enterprises (MSMEs) across Odisha.

Strengthening Industrial Ecosystem​

This partnership reinforces the long-standing strategic ties between the Adani Group and IHC, which previously collaborated on developing renewable energy projects across India through ePointZero. The MoU signing took place in the presence of Shri Mohan Charan Majhi, Hon'ble Chief Minister of Odisha, and senior officials from the state government.

Speaking during the event, Hon'ble Chief Minister Shri Mohan Charan Majhi stated that "Today marks Odisha's entry into the global aluminium supply chain." He added that the investment will enable the state to develop the complete aluminium value chain—from mining and refining to smelting and downstream manufacturing—a critical step toward Samruddha Odisha 2036.

Mr. Karan Adani, representing the Adani Group, expressed confidence in Odisha as a long-term manufacturing destination, noting that the joint venture will strengthen the robust partnership between the Adani Group and IHC Group. He affirmed that together with the Government of Odisha, they plan to build an integrated aluminium ecosystem that boosts value-added manufacturing and strengthens India's industrial competitiveness.

Syed Basar Shueb, CEO of IHC, highlighted that through IRH, they are investing in critical minerals to support industrial development and strengthen supply chain resilience, stating that the partnership represents a shared ambition to develop a world-class integrated aluminium project.

The joint venture partners, AEL and IRH, along with the Government of Odisha, will now move forward with subsequent phases of the project, including infrastructure planning, land acquisition, and statutory approvals.

ADANIENT Stock Price Movement​

Adani Enterprises Limited closed today gaining 0.68%, with shares settling at ₹3177.5 as the company wrapped up its post-market trading session. The stock rallied to meet its yearly high, reaching a peak of ₹3229.6, amidst a robust traded volume of 3.40 million shares.