Adani Enterprises Ltd (AEL) and International Resources Holding (IRH) sign $11.5 billion aluminium project deal with Odisha government

Key facts

• Adani Enterprises Ltd (AEL) and International Resources Holding (IRH), a unit of International Holding Company (IHC) group, signed a deal with the Odisha government to set up an integrated aluminium project with a proposed investment of $11.5 billion (approximately ₹1.08 trillion).
• The project is a 50:50 joint venture between AEL and IRH and is billed as India's largest Foreign Direct Investment (FDI) in mining and metallurgy and the biggest FDI proposal for Odisha.
• The complex will comprise a 4 million tonnes per annum (mtpa) alumina refinery in Rayagada district, a 2 mtpa aluminium smelter in Sundargarh district, a 4,000 megawatt (Mw) captive power plant including 400 Mw of renewable energy, and a 1 mtpa downstream manufacturing park.
• The investment will be executed in two phases of ₹66,000 crore and ₹42,000 crore respectively, requiring a total of 7,300 acres of land, with 3,200 acres for the refinery and 4,100 acres for the smelter.
• The downstream manufacturing park is expected to attract manufacturers from the automobiles, railways, aerospace, power transmission, renewable energy, construction, packaging, and advanced engineering industries.