Adani, IHC $11.5B Odisha Aluminium JV
Analysis based on 60 articles · First reported Mar 09, 2018 · Last updated Jul 02, 2026
The joint venture between Adani Enterprises and Maqam International Holding for a $11.5 billion aluminium project in India — Odisha is expected to significantly boost India's aluminium production capacity and attract further foreign direct investment into the country's metals and mining sector. This development is positive for the industrial growth of India — Odisha and India, potentially increasing job creation and economic value.
Adani Enterprises and Abu Dhabi-based Maqam International Holding (IHC Group) have signed a Memorandum of Understanding with the India — Odisha government to develop an integrated aluminium project in India — Odisha, India. The $11.5 billion (approximately Rs 1.08 trillion) greenfield project, executed through an equal joint venture, includes a four million tonne alumina refinery, a two million tonne aluminium smelter, a 4,000 megawatt captive power plant, and a one million tonne downstream manufacturing park. This venture is described as India's largest foreign direct investment in the mining and metallurgy sector and is expected to create around 53,500 jobs. The project aims to position India — Odisha as a major player in global aluminium supply chains and significantly increase India's aluminium output. The India — Odisha government has pledged full support, forming a special task force to expedite clearances and land acquisition.
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