NewsBusinessOpinionFutureClimateHealthCultureLifestyleSportWorld Cup 2026 My Profile IHC and India's Adani Group have signed an initial pact to invest $11.5 billion in an aluminium project in Odisha, with each holding a 50 per cent stake.
The project will create India's largest aluminium complex, with an annual capacity of four million tonnes of alumina and two million tonnes of aluminium.
The development is expected to generate 53,500 jobs in Odisha.
India is targeting domestic aluminium production growth to meet demand projected to reach 8.5 million metric tonnes by the 2030 fiscal year.
"We are investing in renewable solar power projects. We are investing in battery solution. We are investing in nuclear, we are investing in aluminium smelter and real estate development," IHC's chief executive and managing director said. Abu Dhabi's International Holding Company and India's Adani Group have signed an initial pact to invest $11.5 billion to develop an aluminium project in the Asian nation. International Resources Holding (IRH), an IHC group company through 2PointZero, and Adani Enterprises Limited (AEL) signed the initial pact with the Indian state of Odisha for the integrated greenfield aluminium project, the Adani Group said in a statement on Thursday. AEL and IHC are to form a joint venture with a 50 per cent stake each for the proposed project.
Published: July 2, 2026 4:23 pm
Source: thenationalnews.com — Read original