Odisha Signs ₹1.10 Lakh Crore Aluminium MoU, Adani-IHC JV To Create 53,500 Jobs

Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Thursday called the signing of a major investment agreement between the state government, Adani Enterprises and Abu Dhabi-based International Holding Company a historic step for the state’s industrial growth.

Major Investment

The Memorandum of Understanding (MoU) involves an investment of USD 11.5 billion, or around Rs 1.10 lakh crore, for an integrated aluminium value chain project in Odisha.

The project will be developed through a joint venture between Adani Enterprises and International Resources Holding (IRH), a company under IHC Group.

Chief Minister Majhi said this could become India’s largest foreign direct investment in the mining and metallurgy sector.

Jobs And Growth

The proposed project is expected to generate more than 53,500 employment opportunities, directly and indirectly.

Majhi said the investment will help Odisha become an important part of the global aluminium supply chain.

He added that the state wants to move beyond simply selling raw minerals and instead focus on value-added manufacturing that creates jobs and boosts industrial growth.

Complete Aluminium Chain

The project will cover the entire aluminium production process.

This includes bauxite mining, alumina refining, aluminium smelting, captive power plants, downstream aluminium manufacturing and supporting infrastructure.

According to the Chief Minister, this will strengthen Odisha’s position as a major industrial hub.

Focus On Green Metals

Majhi said global demand is rising for green metals and environmentally sustainable industrial production.

He said Odisha is working to become a leader in this fast-growing sector.

The project is expected to support the state’s long-term development goals under Samruddha Odisha 2036 and Viksit Bharat 2047.

Government Support

The Odisha government has promised full support for the project, including land, water, power, logistics and faster approvals.

Karan Adani praised Odisha’s mineral strength and industrial potential, saying the state has vast bauxite reserves and more than 50% of India’s iron ore resources, making it a key pillar of India’s industrial economy.