Odisha signs MoU with IHC for Adani's USD 11.5 bn aluminium project

Odisha signed an MoU with IHC for an integrated aluminium project, backed by Adani Group's proposed USD 11.5 billion investment. CM Mohan Charan Majhi said the project will create over 53,500 jobs and boost the state's industrial ecosystem.

The MoU signed with International Holding Company (IHC) for aluminium value chain project opens partnership opportunities across sectors including green metals, R&D, Global Capability Centres (GCC), bolstering Odisha's industrial ecosystem, said Odisha CM Mohan Charan Majhi.

Adani Group announced a proposed investment of USD 11.5 billion (nearly Rs 1.08 lakh crore) in the state to develop an integrated aluminium manufacturing ecosystem.

A New Chapter in Global Industrial Partnerships

Speaking at the Memorandum of Understanding (MoU) signing ceremony in Bhubaneswar on Thursday, CM Mohan Charan Majhi said the MoU signed with International Holding Company (IHC), Abu Dhabi, for a proposed integrated aluminium value chain project marks the beginning of a new chapter in Odisha's global industrial partnerships.

The proposed project will span the entire aluminium value chain, including bauxite mining, alumina refining, aluminium smelting, captive power generation, downstream manufacturing and allied infrastructure.

Massive Employment Generation Expected

CM Majhi said the project is expected to generate around 35,000 jobs during construction and 18,500 jobs during operations, significantly boosting employment and industrial development in the state.

Stressing Odisha is committed to value addition, he said the state's mineral wealth must drive manufacturing, job creation and prosperity for its people. Adding to this, he highlighted the "partnership also opens avenues for collaboration in green metals, R&D, metallurgy, engineering, digital systems, project management and Global Capability Centres, strengthening Odisha's industrial ecosystem."

Government Assures Full Support for Timely Implementation

CM Majhi said the state is rapidly diversifying its industrial base and has attracted major investments through proactive investor outreach.

Assuring full support, CM Majhi said the Odisha government will provide time-bound facilitation for land, power, water, logistics, connectivity, statutory approvals, skilling and ecosystem development to ensure timely implementation of the proposed project.

The CM further said the MoU reinforces Odisha's position as a preferred global investment destination.

Project Specifications

In a further development, Adani Enterprises Managing Director Karan Adani said the project will integrate the entire aluminium value chain and include an alumina refinery with a capacity of nearly 4 million tonnes per annum, an aluminium smelter of around 2 million tonnes per annum, and a downstream aluminium park of about 1 million tonnes per annum. (ANI)

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