Adani Enterprises, led by billionaire Gautam Adani, is partnering with Abu Dhabi’s International Holding Co. (IHC) to invest 1.08 trillion rupees ($11.3 billion) in an aluminum project in Odisha, India. This venture aims to establish a 50:50 joint project, focused on meeting the growing demand for aluminum and creating a comprehensive ecosystem for its production.
The investment will unfold in two phases: approximately 660 billion rupees for the first phase and 440 billion rupees for the second. The project, which is set to produce 4 million tons of alumina, 2 million tons of aluminum, and 1 million tons of value-added aluminum products annually, will leverage Odisha’s rich bauxite reserves, which provide the essential raw material for aluminum production.
This initiative is expected to generate around 53,500 jobs throughout the construction and operational phases, reinforcing India’s industrial strength and manufacturing capabilities. The collaboration deepens the ongoing partnership between Adani Enterprises and IHC, which has already seen over $2 billion in investments in renewable energy projects since 2022.
Gautam Adani, with a net worth of approximately $90.5 billion, is one of India’s wealthiest individuals, leading a diversified conglomerate with interests spanning several sectors, including energy and logistics.
