Odisha Signs ₹1.10-Lakh-Crore MoU for Integrated Aluminium Project with Adani, UAE-Based IHC

Bhubaneswar: Odisha took a major step towards strengthening its position as a global aluminium manufacturing hub on Thursday as the state government signed a Memorandum of Understanding (MoU) with Adani Enterprises Limited and the International Holding Company (IHC) of the United Arab Emirates (UAE) for the development of an integrated aluminium value chain project involving an investment of $11.5 billion (around ₹1.10 lakh crore).

The project, which will be developed through a joint venture between Adani Enterprises and International Resources Holding (IRH), an IHC Group company, is expected to be one of the largest foreign investments in India’s mining and metallurgy sector.

Describing the agreement as a milestone in Odisha’s industrial journey, Chief Minister Mohan Charan Majhi, who attended the MoU signing ceremony, said the project would create over 53,500 employment opportunities while significantly enhancing the state’s role in the global aluminium industry.

The proposed investment will cover the entire aluminium value chain, including bauxite mining, alumina refining, aluminium smelting, captive power generation, downstream aluminium manufacturing and the creation of supporting industrial infrastructure.

The Chief Minister said the government’s focus is on ensuring greater value addition to Odisha’s mineral resources instead of exporting raw materials, thereby generating employment, attracting investment and accelerating industrial growth within the state.

Highlighting the growing global demand for green metals and sustainable industrial practices, Majhi said Odisha is positioning itself to become a leading destination for environmentally responsible aluminium production. He expressed confidence that the partnership would contribute significantly to the state’s long-term industrial and economic goals.

He further stated that the collaboration with the IHC Group is expected to extend beyond aluminium production into emerging sectors such as research and development, advanced metallurgy, digital technologies and Global Capability Centres (GCCs), supporting the state’s vision of ‘Samruddha Odisha 2036’ and ‘Viksit Bharat 2047’.

Reiterating the government’s commitment to facilitating the project, the Chief Minister assured investors of full support in areas such as land allocation, water supply, power connectivity, logistics and timely statutory clearances to ensure smooth implementation.

Speaking on the occasion, Karan Adani, Managing Director of Adani Ports and Special Economic Zone (APSEZ) Limited, said Odisha’s abundant mineral wealth and robust industrial ecosystem make it one of the country’s most promising investment destinations. He noted that the state possesses India’s largest bauxite reserves and more than half of the nation’s iron ore resources, providing a strong foundation for large-scale industrial development.