Adani Group, Abu Dhabi’s IHC to invest $11.5 billion in aluminium plant in Odisha: Report
The project could increase India’s total aluminium capacity by nearly 50% and would mark Adani’s second metals venture after its copper smelter in Gujarat that started operations last year.
- Jul 2, 2026,
- Updated Jul 2, 2026 7:53 AM IST
Adani Group and Abu Dhabi-based International Holding Company (IHC) reportedly plan to jointly invest $11.5 billion over the next few years to build a large aluminium plant.
According to a report in The Economic Times that cited sources, the partners intend to fund the investment through debt and equity to build an aluminium smelter in Odisha with an annual capacity exceeding 2 million tonnes.
The project could increase India’s total aluminium capacity by nearly 50% and would mark Adani’s second metals venture after its copper smelter in Gujarat that started operations last year.
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The investment split between the two parties was not disclosed, the report stated. This would be the largest foreign investment in India’s metals and minerals sector.
The facility is expected to be an integrated unit combining smelting and refining. It will include a captive power plant, and logistics are likely to be handled through Dhamra port in Odisha on the Bay of Bengal, owned by Adani Ports and Special Economic Zone, it added.
India is the world’s second-largest aluminium producer after China, producing 4.2 million tonnes in FY25. Domestic consumption was 5.5 million tonnes, with per capita consumption at 3.4-3.9 kg, below the global average of 8-12 kg. India is also the third-largest consumer of aluminium.
According to India’s vision document, consumption is expected to rise to 8.5 million tonnes by FY30, 18 million tonnes by FY40, and 28 million tonnes by FY47. The document suggests India could aim for a 10% global market share by FY47, requiring capacity to scale up to 37 million tonnes per annum by then. Currently, India holds a 3.8% share of the global aluminium market.
IHC, one of the world’s largest investment firms, is backed by Abu Dhabi’s ruling family and chaired by Sheikh Tahnoon bin Zayed Al Nahyan. It has interests in real estate, healthcare, and technology globally.
Adani Group and Abu Dhabi-based International Holding Company (IHC) reportedly plan to jointly invest $11.5 billion over the next few years to build a large aluminium plant.
According to a report in The Economic Times that cited sources, the partners intend to fund the investment through debt and equity to build an aluminium smelter in Odisha with an annual capacity exceeding 2 million tonnes.
The project could increase India’s total aluminium capacity by nearly 50% and would mark Adani’s second metals venture after its copper smelter in Gujarat that started operations last year.
MUST READ | Adani-MSC's Vizhinjam deal hits a snag. Kerala to scrutinise five key aspects
The investment split between the two parties was not disclosed, the report stated. This would be the largest foreign investment in India’s metals and minerals sector.
The facility is expected to be an integrated unit combining smelting and refining. It will include a captive power plant, and logistics are likely to be handled through Dhamra port in Odisha on the Bay of Bengal, owned by Adani Ports and Special Economic Zone, it added.
India is the world’s second-largest aluminium producer after China, producing 4.2 million tonnes in FY25. Domestic consumption was 5.5 million tonnes, with per capita consumption at 3.4-3.9 kg, below the global average of 8-12 kg. India is also the third-largest consumer of aluminium.
According to India’s vision document, consumption is expected to rise to 8.5 million tonnes by FY30, 18 million tonnes by FY40, and 28 million tonnes by FY47. The document suggests India could aim for a 10% global market share by FY47, requiring capacity to scale up to 37 million tonnes per annum by then. Currently, India holds a 3.8% share of the global aluminium market.
IHC, one of the world’s largest investment firms, is backed by Abu Dhabi’s ruling family and chaired by Sheikh Tahnoon bin Zayed Al Nahyan. It has interests in real estate, healthcare, and technology globally.