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Adani Enterprises has partnered with Abu Dhabi-based International Resources Holding (IRH) to develop a $11.5 billion aluminium project in Odisha.
If approved, it would become Odisha's largest-ever foreign investment and India's biggest foreign investment in the metals sector.
IRH is part of IHC, one of the world's largest investment companies, with businesses across technology, infrastructure, finance, and consumer sectors. Odisha, meanwhile, has some of India's largest bauxite reserves,the key raw material used to make aluminium.
What does the project involve: both the companies will form a 50:50 joint venture. The project will include a large alumina refinery, an aluminium smelter, its own 4,000 MW power plant, and a manufacturing park that will turn aluminium into finished products.
Instead of only producing raw aluminium, the project will cover the entire value chain, from refining bauxite into alumina, to making aluminium, and then manufacturing products like cables, car parts, packaging materials, and renewable energy components.
It will be developed in two phases over the next few years, is expected to create more than 53,500 jobs, and will mark the Adani Group's entry into the aluminium business.
Why does it matter: India's demand for aluminium is expected to surge as the country builds more roads, homes, factories, electric vehicles, and renewable energy projects.
The government estimates demand will rise from 5 million tonnes today to 8.5 million tonnes by 2030, and 28 million tonnes by 2047.
Even today, the average Indian uses far less aluminium than the global average, leaving significant room for growth. Projects like this could help India meet that rising demand while strengthening its manufacturing base and reducing reliance on imports.
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