Adani Enterprises Limited and International Resources Holding have signed a memorandum of understanding (MOU) to establish a 50:50 joint venture for a large-scale integrated aluminium project in Odisha. The US$ 11.5 billion initiative aims to construct a refinery, smelter, power plant, and downstream manufacturing hub, marking a major development in India’s industrial metals sector.
Adani Enterprises Limited (AEL) and International Resources Holding (IRH), an investment vehicle under the Abu Dhabi-based IHC Group, have entered a formal agreement with the government of Odisha to develop a significant greenfield aluminium manufacturing complex. The project, valued at approximately US$ 11.5 billion (₹1080 billion), will be executed through an equal equity joint venture.
Adani Enterprises Limited serves as the flagship entity of the Adani Group, focusing on infrastructure development and large-scale industrial projects in India. International Resources Holding operates as a strategic investment platform specialized in mining and global mineral value chains.
This initiative represents a substantial foreign direct investment in India’s metallurgical sector and underscores a strategic push to integrate the nation deeper into the global aluminium supply chain. By linking local bauxite resources with high-capacity refining and smelting operations, the project aims to create a self-contained industrial ecosystem. The phased development includes a 4 million metric tonnes per annum (MMTPA) alumina refinery, a 2 MMTPA aluminium smelter, a 4000 MW captive power plant, and a 1 MMTPA downstream production park.
For stakeholders, this development signals a shift toward large-scale, value-added manufacturing in Eastern India. The infrastructure investment is expected to catalyze regional economic growth through significant job creation and by attracting ancillary businesses in transport, energy, and engineering sectors. From a market perspective, the move reinforces the growing trend of cross-border partnerships in critical mineral sectors, balancing industrial expansion with the requirements of regional economic policy. As the partners progress toward land acquisition and regulatory approvals, the project will be closely monitored for its contribution to India’s industrial self-reliance objectives.
About GlobeNewsInfo
GlobeNewsInfo.com is a business news platform providing latest updates on global business developments, projects, and contract opportunities across diverse sectors and regions. The platform is designed to serve as a trusted source of information for companies, investors, and professionals worldwide.