Adani and IHC Launch $11.5B Aluminum Park in Odisha, India, Creating 18,500 Jobs

Adani Group and Abu Dhabi International Holding Company (IHC), each holding a 50% stake, have jointly established a joint venture and plan to build a large-scale integrated aluminum industrial park in Rayagada, Odisha, India, with a total investment of $11.5 billion.

The industrial park will include an alumina refinery with an annual capacity of 4 million mt, aluminum smelting facilities with a capacity of 2 million mt, and an aluminum deep processing base with a capacity of 1 million mt. It will be implemented in two phases: Phase I with an investment of $6.9 billion and Phase II with $4.6 billion. The project will also include the construction of a 4,000 MW captive coal-fired power plant and a 400 MW renewable energy unit. The joint venture has signed a long-term bauxite supply agreement with Odisha Mining Corporation.

Regulatory approvals are expected to take 12 to 18 months, after which Phase I is expected to come on stream within 3 to 3.5 years, and the entire project is expected to be completed and operational within 4 to 5 years. During construction, it is expected to provide 35,000 temporary jobs, and upon commissioning, it will create 18,500 permanent jobs.