Adani Enterprises and IRH have formed a joint venture to develop an $11.5 billion aluminium project in Odisha, creating over 53,000 jobs and boosting manufacturing.
Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has partnered with Abu Dhabi-based International Resources Holding (IRH) to develop a massive ₹1.08 lakh crore ($11.5 billion) integrated aluminium project in Odisha.
The two companies signed a Memorandum of Understanding (MoU) with the Government of Odisha to establish a greenfield aluminium manufacturing ecosystem that is expected to become the state’s largest-ever foreign direct investment (FDI) proposal and India’s biggest FDI investment in the metallurgy sector.
The project is expected to create approximately 53,500 jobs during construction and operations while strengthening India’s position in the global aluminium value chain.
50:50 Joint Venture Between Adani and IRH
The project will be developed through a 50:50 joint venture between Adani Enterprises and International Resources Holding (IRH), a natural resources investment platform owned by Abu Dhabi’s IHC Group through its subsidiary 2PointZero.
The partnership expands the growing strategic relationship between the Adani Group and IHC, which has already collaborated on energy, transmission, and artificial intelligence projects in India.
Earlier in 2026, IHC subsidiary ePointZero entered into a joint venture with Adani Green Energy to develop renewable energy projects across India. The Odisha aluminium venture marks another major milestone in IHC’s long-term multi-billion-dollar investment strategy in the country.
A Fully Integrated Aluminium Manufacturing Ecosystem
The proposed project will establish one of India’s largest integrated aluminium manufacturing facilities.
The development includes:
- 4 million metric tonnes per annum (MMTPA) alumina refinery
- 2 MMTPA aluminium smelter
- 4,000 MW captive power plant
- 1 MMTPA downstream aluminium manufacturing park
- Supporting industrial infrastructure and logistics facilities
By integrating refining, smelting, power generation, and downstream manufacturing within a single ecosystem, the project aims to improve efficiency while creating significant value-added manufacturing capacity inside India.
Odisha Strengthens Its Position as a Manufacturing Hub
Odisha already holds a leading position in India’s metals and mining sector because of its abundant reserves of bauxite, iron ore, coal, and other minerals.
The new investment is expected to move the state further up the manufacturing value chain by enabling aluminium production from raw material processing through finished industrial products.
Speaking during the signing ceremony, Odisha Chief Minister Mohan Charan Majhi said the investment would help establish the state as a global aluminium manufacturing hub while supporting its long-term development goals under Samruddha Odisha 2036 and India’s Viksit Bharat 2047 vision.
Over 53,000 Employment Opportunities
According to project estimates, the integrated aluminium complex will generate around 53,500 employment opportunities across construction, operations, manufacturing, and supporting industries.
Beyond direct jobs, the downstream manufacturing park is expected to encourage suppliers, engineering firms, logistics providers, equipment manufacturers, and small businesses to establish operations around the industrial ecosystem.
The project also creates opportunities for skill development and local manufacturing across multiple sectors linked to aluminium production.
Strategic Partnership Between India and UAE
The agreement reflects the growing economic partnership between India and the United Arab Emirates. At the same time, it highlights the increasing collaboration between the two countries in strategic industries.
International Resources Holding (IRH), a part of Abu Dhabi’s International Holding Company (IHC), has steadily expanded its investments across key sectors in India, including renewable energy, infrastructure, natural resources, and advanced technologies.
For the Adani Group, the partnership provides greater access to international capital while supporting its expansion into large-scale industrial manufacturing.
Leadership Highlights Long-Term Vision
Speaking on the partnership, Karan Adani, Managing Director of Adani Ports and Special Economic Zone (APSEZ) and Director of Adani Cement, said the investment reflects the group’s long-term confidence in Odisha as a leading manufacturing destination.
He added that the joint venture with IRH will help build an integrated aluminium ecosystem, create thousands of jobs, expand value-added manufacturing, and strengthen India’s industrial competitiveness.
Meanwhile, senior leaders from the Government of Odisha, IHC Group, IRH, Adani Group, industry associations, and representatives from the World Skill Centre attended the MoU signing ceremony, underscoring the broad support for the project.
A Major Step for India’s Aluminium Industry
Once operational, the integrated complex is expected to become one of the largest aluminium manufacturing projects in the country.
By combining refining, smelting, downstream manufacturing, and dedicated power generation, the project aims to strengthen domestic production, reduce import dependence for value-added aluminium products, attract further industrial investment, and reinforce India’s role in global manufacturing and critical metals supply chains.
Source: Gulf News
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Mega investment includes an alumina refinery, aluminium smelter and downstream manufacturing park.
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