New Greenfield Aluminium Project To Generate 35k Jobs In Odisha: Karan Adani

In what is being labelled as the biggest foreign direct investment (FDI) in Odisha, Adani Enterprises Ltd (AEL) and Abu Dhabi-based International Resources Holding have inked an MoU with the state government to develop an integrated greenfield aluminium project for Rs 1.08 lakh crore.

AEL and IHC Group company through 2PointZero will execute the project through a 50:50 joint venture. The MoU was signed in the presence of Chief Minister Mohan Charan Majhi, Industries Minister Sampad Chandra Swain, IHC Group CEO Syed Basar Shueb and Karan Adani, Managing Director of Adani Ports and Special Economic Zone (APSEZ).

At the MoU singing event, Karan Adani said, "Odisha is India’s rich mineral resources, contributes significantly to the nation’s industrial development."

Highlighting the unique aspects of the eastern state, he noted that Odisha holds,"largest reserves of bauxite
,over 50% of India’s iron ore reserves, substantial coal reserves, supporting power and industrial growth, and rich deposits of chromite, manganese, limestone and dolomite". 

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"This unique combination of abundant resources makes Odisha one of the most strategically important industrial destinations in India and provides a strong foundation for integrated manufacturing ecosystems, including metals, energy, cement, and downstream industries," he said.

Calling the investment a milestone, the Odisha CM Majhi said the project would position Odisha as a global aluminium manufacturing hub by developing the entire value chain, from mining and alumina refining to smelting and downstream production, while supporting the state's Samruddha Odisha 2036 vision and contributing to Viksit Bharat 2047."

On what the fresh influx of funds translates into for the state, Adani said, "With a proposed investment of USD 11.5 billion, translating to nearly Rs 1.08 lakh crore, this is among the most significant aluminium ecosystem investments anywhere in the world, being developed in partnership with IHC."

"This project brings together the full aluminium value chain in one integrated ecosystem. It envisages an alumina refinery of nearly 4 million tonnes per annum, an aluminium smelter of nearly 2 million tonnes per annum, and a downstream aluminium park of nearly 1 million tonnes per annum," he said.

"It will be supported by a captive power capacity of about 4,000 megawatts and a green energy component of about 400 megawatts. These numbers are not merely statistics. They represent the foundation of a new industrial future. During construction, this project will generate nearly 35,000 jobs," he added.