MoU with IHC Opens New Collaboration Avenues
The Memorandum of Understanding signed between the Odisha government and International Holding Company (IHC) of Abu Dhabi for an integrated aluminium value chain project will unlock partnership opportunities across multiple sectors, including green metals, research and development, and Global Capability Centres (GCCs), according to Odisha Chief Minister Mohan Charan Majhi. Speaking at the signing ceremony in Bhubaneswar on Thursday, CM Majhi stated that the agreement marks the beginning of a new chapter in Odisha's global industrial partnerships.
Adani's USD 11.5 Billion Investment
The Adani Group has proposed an investment of USD 11.5 billion (nearly Rs 1.08 lakh crore) in Odisha to develop an end-to-end aluminium manufacturing ecosystem. The project will cover the entire aluminium value chain, including bauxite mining, alumina refining, aluminium smelting, captive power generation, downstream manufacturing, and allied infrastructure.
Massive Employment Generation
CM Majhi said the project is expected to generate approximately 35,000 jobs during the construction phase and 18,500 jobs during operations, significantly boosting employment and industrial development in the state. He stressed that Odisha is committed to value addition and that the state's mineral wealth must drive manufacturing, job creation, and prosperity for its people.
Strengthening Odisha's Industrial Ecosystem
The CM highlighted that the partnership also opens avenues for collaboration in green metals, R&D, metallurgy, engineering, digital systems, project management, and Global Capability Centres, thereby strengthening Odisha's industrial ecosystem. He noted that the state is rapidly diversifying its industrial base and has attracted major investments through proactive investor outreach.
Government Support and Timely Implementation
CM Majhi assured full support from the Odisha government, which will provide time-bound facilitation for land, power, water, logistics, connectivity, statutory approvals, skilling, and ecosystem development to ensure timely implementation of the proposed project. He further said the MoU reinforces Odisha's position as a preferred global investment destination.
Details of the Aluminium Value Chain
Adani Enterprises Managing Director Karan Adani said the project will integrate the entire aluminium value chain. It will include an alumina refinery with a capacity of nearly 4 million tonnes per annum, an aluminium smelter of around 2 million tonnes per annum, and a downstream aluminium park of about 1 million tonnes per annum.
