Adani Group on Wednesday signed a Memorandum of Understanding (MoU) with the Odisha government to invest nearly Rs 1.08 lakh crore (USD 11.5 billion) in an integrated aluminium ecosystem in the state. The agreement was signed in the presence of Odisha Chief Minister Mohan Charan Majhi, senior state government officials and Syed Basar Shueb, Managing Director and Chief Executive Officer of IHC Abu Dhabi. Addressing the event, Adani Group Director Karan Adani said, "Today, we are gathered not merely to witness the historic MOU but to herald the beginning of a new economic chapter for Odisha, which will shape and accelerate the growth trajectory of Bharat."
Project To Span Entire Aluminium Value Chain
The proposed project will comprise an alumina refinery with a capacity of nearly 4 million tonnes per annum (MTPA), an aluminium smelter of around 2 MTPA and a downstream aluminium park of about 1 MTPA, creating a fully integrated aluminium manufacturing ecosystem. The project will be supported by approximately 4,000 MW of captive power capacity and 400 MW of green energy. Describing the investment, Karan Adani said it was "among the most significant aluminium ecosystem investments anywhere in the world." He added, "This project brings together the full aluminium value chain in one integrated ecosystem."
Spread across Odisha, the project is expected to strengthen domestic aluminium manufacturing by integrating refining, smelting and downstream production at a single location. It is also expected to reduce dependence on imported value-added aluminium products while supporting the development of ancillary industries and local supplier networks. The investment comes as Odisha continues to position itself as a major manufacturing destination. The state holds India's largest bauxite reserves, more than 50 per cent of the country's iron ore reserves, substantial coal reserves and significant deposits of chromite, manganese, limestone and dolomite, providing the raw material base for integrated metals manufacturing.
According to the company, the project is expected to generate around 35,000 jobs during construction and support approximately 18,500 jobs during operations. "Behind every one of these numbers is a family, a dream, a young person acquiring a skill, a small business receiving an order, a local entrepreneur finding a market, and a community seeing new opportunities," Karan Adani said. The downstream aluminium park is also expected to create opportunities for MSMEs and businesses linked to the aluminium value chain.
Linking the investment to India's long-term industrial strategy, Karan Adani said, "Under the leadership of Prime Minister Shri Narendra Modi ji, India has set for itself the great national mission of Viksit Bharat by 2047. Projects like this are the building blocks of that vision." He further added, "A Viksit Bharat will require Viksit Odisha," highlighting the state's role in India's manufacturing and industrial growth.
Addressing the people of Odisha, Karan Adani said, "This project belongs to you. It is meant to create opportunities for your children, strengthen your local economy, support your entrepreneurs, and take Odisha to the world." He also thanked the Odisha government for its support and welcomed IHC Abu Dhabi and other partners for their participation in the proposed industrial ecosystem. |
