Adani Group, IHC invest $11.5B in Odisha aluminum plant
Adani Group and Abu Dhabi's International Holding Company (IHC) are teaming up to invest $11.5 billion in a new aluminum plant in Odisha.
This mega project will handle everything from smelting to refining over 2 million tons of aluminum each year, powered by its own captive power plant and connected through Adani's Dhamra Port.
India produced 4.2Mt, needed 5.5Mt
India uses more aluminum than it makes: in FY25 (financial year 2024-25), India produced 4.2 million tons and consumed 5.5 million tons, so imports filled the gap.
With demand expected to rise by FY47 (financial year 2046-47, i.e., by 2047), this investment could help India grab a bigger slice of the global market and cut back on imports.
Plus, it's the largest foreign direct investment ever in India's metals sector, a big deal for jobs and industry growth!