International Resources Holding (IRH), an IHC Group company through 2PointZero, and Adani Enterprises have signed an agreement to establish a 50:50 joint venture to develop an integrated USD 11.5 billion aluminium project in the Indian state of Odisha.
The project will be one of India’s largest aluminium investments and is expected to strengthen Odisha’s position in the global aluminium supply chain while supporting long-term industrial growth and employment.
Key highlights:
• IRH and Adani Enterprises to form a 50:50 joint venture
• Total investment of approximately USD 11.5 billion (₹1.08 lakh crore)
• Expected to become India’s largest integrated aluminium investment
• Represents Odisha’s largest Foreign Direct Investment (FDI) proposal
• Project to be developed in two phases
• Expected to create approximately 53,500 jobs
The integrated project will include:
• 4 MMTPA alumina refinery
• 2 MMTPA aluminium smelter
• 4,000 MW captive power plant
• 1 MMTPA downstream manufacturing park
• Supporting infrastructure
The investment will be executed in two phases:
• Phase 1: ₹66,000 crore investment
• Phase 2: ₹44,000 crore investment
According to the companies, the project is expected to create:
• Around 35,000 jobs during construction
• Approximately 18,500 permanent jobs across mining, refining, aluminium production and downstream manufacturing operations
The downstream manufacturing park is expected to support industries including:
• Transport
• Construction
• Power
• Packaging
• Renewable energy
• Advanced engineering
According to IHC, the partnership further strengthens its long-term investment strategy in India through IRH and builds on its growing collaboration with the Adani Group across sectors including energy, infrastructure and artificial intelligence.
Source: International Holding Company (IHC) / International Resources Holding (IRH)
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.