Mega India-UAE investment to create jobs and strengthen aluminium manufacturing….reports Asian Lite News Desk
The Adani Group and Abu Dhabi-based International Holding Company (IHC) on Thursday signed an agreement to set up an integrated aluminium manufacturing ecosystem in Odisha with a proposed investment of $11.5 billion (around Rs 1.08 lakh crore), one of the largest investments in the global aluminium sector.
The Memorandum of Understanding (MoU) for the project was signed in Bhubaneswar in the presence of senior government officials and company executives.
Speaking at the event, Karan Adani, Managing Director of Adani Ports and Special Economic Zone Ltd (APSEZ), described the project as a landmark investment that would usher in a new phase of industrial growth for Odisha and India.
“With a proposed investment of $11.5 billion, translating to nearly Rs 1.08 lakh crore, this is among the most significant aluminium ecosystem investments anywhere in the world. But its true significance lies not only in the size of the investment. It lies in the depth of its impact,” he said.
Karan Adani said the project would create a fully integrated aluminium value chain, comprising an alumina refinery with an annual capacity of nearly 4 million tonnes, an aluminium smelter capable of producing 2 million tonnes annually, and a downstream aluminium park with a capacity of around 1 million tonnes per year.
The project will also include a 4,000 MW captive power plant and a 400 MW green energy component to support operations.
Calling the investment the beginning of “a new economic chapter for Odisha”, Karan Adani said the project would significantly contribute to the state’s industrial development and India’s manufacturing ambitions.
“These numbers are not merely statistics. They represent the foundation of a new industrial future,” he said.
According to the Adani Group, the project is expected to generate around 35,000 jobs during the construction phase and support approximately 18,500 direct and indirect jobs once operational.
“Behind every one of these numbers is a family, a dream, a young person acquiring a skill, a small business receiving an order, a local entrepreneur finding a market and a community seeing new opportunities,” Karan Adani said.
Welcoming IHC’s participation, he said the investment reflected growing international confidence in Odisha’s industrial potential and India’s long-term growth story.
