Adani + Abu Dhabi IHC $11.5B Aluminium Project in odisha

Deal Structure

Partners: Adani Enterprises Ltd + International Holding Company, Abu Dhabi through 2PointZero

JV Split: 50:50

Investment: $11.5 billion / ₹1.08 lakh crore

MoU Signed: July 2, 2026 with Odisha government

Tag: Largest FDI in India’s metals sector . 

Location

State: Odisha - holds 54% of India’s aluminium output & largest bauxite reserves

Logistics: Dhamra Port likely to be used - owned by Adani Ports . 

Project Scope - Integrated Value Chain

This is a greenfield project covering bauxite to finished products:

4 MMTPA Alumina Refinery - converts bauxite to alumina

2 MMTPA Aluminium Smelter - produces primary aluminium

4,000 MW Captive Power Plant - to run the energy-intensive smelter

1 MMTPA Downstream Manufacturing Park - value-added products like sheets, extrusions, foils. 

Capacity impact: India’s current aluminium capacity ∼4.2 MT. This adds 2 MTPA smelting, raising total capacity by ∼50% . 

Investment Timeline

Phase I: ~₹66,000 crore

Phase II: ~₹44,000 crore . 

Economic Impact

Jobs: 53,500 total — 35,000 construction + 18,500 operations

Goal: Meet domestic demand from infrastructure, power, transport, renewables & cut imports of value-added metal . 

Context

Adani’s position: This is Adani Group’s second metals venture after its Gujarat copper smelter. It doesn’t operate an aluminium plant yet

IHC background: IHC subsidiary IRH recently acquired Zambia’s Mopani Copper Mines

Competition: Hindalco & Vedanta are also expanding in Odisha . 

Status: MoU signed, project planning phase. No construction start date announced yet.