Odisha Signs ₹1.08 Lakh Crore Aluminium Project Pact with UAE’s IHC and Adani Enterprises

Odisha has signed a major investment agreement with UAE-based International Resources Holding and Adani Enterprises Limited to develop a large integrated aluminium project in the state. The proposed investment, valued at around ₹1.08 lakh crore or USD 11.5 billion, is being described as one of the biggest foreign direct investment commitments in India’s metals sector.

International Resources Holding, the Abu Dhabi-based natural resources investment platform and part of the IHC Group through 2PointZero, will partner with Adani Enterprises Limited, the flagship company of the Adani Group, for the project. The initiative is expected to create a full aluminium value chain in Odisha, covering key stages from raw material processing to value-added aluminium production.

The project is planned as a greenfield integrated aluminium facility and will be developed through a 50:50 joint venture involving the Odisha government and the IHC–Adani Enterprises consortium. Once implemented, it is expected to strengthen Odisha’s position as one of India’s most important industrial and mineral-based manufacturing hubs.

Odisha already holds a strategic advantage in the aluminium sector because of its rich bauxite reserves, port connectivity, power infrastructure and established industrial ecosystem. The new investment is expected to build on these strengths and attract further industrial activity around mining, refining, smelting, downstream manufacturing, logistics and allied services.

The agreement also reflects the growing investment partnership between India and the United Arab Emirates. For the UAE-based IHC Group, the project offers an entry into India’s fast-growing metals and industrial value chain. For Adani Enterprises, it strengthens the group’s presence in core infrastructure and manufacturing-led sectors.

The proposed aluminium unit is expected to generate large-scale employment, support ancillary industries and contribute to export-oriented manufacturing. It could also help India reduce dependence on imported aluminium products by expanding domestic production capacity and creating an integrated supply chain within the country.

For Odisha, the project marks another major step in its ambition to become a global centre for metals, minerals and industrial manufacturing. With a proposed investment of ₹1.08 lakh crore, the IHC–Adani aluminium project has the potential to become a landmark industrial development for the state and a significant addition to India’s metals economy.