In a significant move, the Adani Group revealed plans to construct a massive aluminium facility in Odisha, in collaboration with the Abu Dhabi-based International Holding Company (IHC), involving an investment of $11.5 billion. At the MoU signing event in Bhubaneswar for the proposed aluminium venture, Karan Adani, the Managing Director of Adani Ports and Special Economic Zone Limited (APSEZ), emphasized the global scale of the Adani Project. Karan Adani highlighted that the investment of $11.5 billion, equivalent to around Rs 1.08 lakh crore, signifies one of the most substantial aluminium ecosystem investments globally.
The project aims to integrate the complete aluminium value chain within a unified ecosystem. It includes plans for an alumina refinery producing nearly 4 million tonnes annually, an aluminium smelter with a capacity of nearly 2 million tonnes per year, and a downstream aluminium park with an output of nearly 1 million tonnes per annum. Additionally, the project will have a captive power capacity of approximately 4,000 megawatts and a green energy component of about 400 megawatts. Karan Adani emphasized that beyond being mere statistics, these figures lay the groundwork for a new industrial era, with the construction phase expected to create about 35,000 jobs and around 18,500 jobs during operations.
Karan Adani, addressing the audience, expressed that the project signifies more than just financial investment, as it will have a profound impact on the region’s economic growth. He stated that the initiative would not only boost Odisha’s economic landscape but also accelerate India’s growth trajectory. Karan Adani extended a warm welcome to IHC and all partners, appreciating their confidence in Odisha and India.
