Abu Dhabi’s International Holding Company (IHC) and the Indian conglomerate Adani Group have officially launched a 50:50 joint venture to establish a monumental $11.5 billion greenfield aluminium project in Odisha. This ambitious initiative stands as the largest foreign direct investment in India’s metallurgy sector to date. The integrated complex will feature a 4 MMTPA alumina refinery, a 2 MMTPA aluminium smelter, a robust 4,000-megawatt captive power plant, and a downstream manufacturing park, all designed to secure Odisha’s status as a critical player in the global aluminium supply chain.

Beyond the industrial impact, the project is set to be a major economic engine, projected to create approximately 53,500 jobs across construction, production, and ancillary sectors. This collaboration marks a significant expansion of the growing economic ties between the UAE and India, building upon previous successful ventures in AI and renewable energy. With high-level support from the Odisha state government, the development aims to integrate the entire aluminium value chain, from raw material extraction to finished value-added products, effectively cementing the region's reputation as a premier destination for large-scale industrial growth in Asia.