$11.5bn Adani-IRH aluminium project set to strengthen Odisha’s aluminium value chain
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Odisha has handed over more than 7,000 acres of land for the Adani Group-International Resources Holding (IRH) joint venture’s proposed USD 11.5 billion integrated aluminium complex. This covers planned alumina refining, aluminium smelting and downstream manufacturing facilities across Sundargarh and Rayagada districts.
The land includes around 4,000 acres in Sundargarh district and 3,000 acres in Rayagada district. In the presence of India’s Ambassador to the UAE, Deepak Mittal, the documents were handed over by Chief Minister Mohan Charan Majhi.
The project is being developed as a 50:50 joint venture between the Adani Group and IRH, a unit of Abu Dhabi-based International Holding Company. It will cover several stages of the aluminium value chain, from alumina refining and aluminium smelting to downstream manufacturing.
4 mtpa alumina refinery and 2 mtpa smelter planned
The complex will be developed in two phases across Rayagada and Sundargarh.
The first phase is expected to involve an investment of around INR 660 billion (USD 7 billion), followed by another INR 420 billion (USD 4 billion) in the second phase.
The planned facilities include a 4 million tonne per annum (mtpa) alumina refinery, 2 mtpa aluminium smelter, 1 mtpa downstream manufacturing park and a 4,000 MW captive power plant. The power facility will include 400 MW of green power capacity.
The alumina refinery is planned in Rayagada, near the bauxite-producing areas that are expected to supply the facility. The aluminium smelter and captive power facilities will be set up in Sundargarh.
Project to cover the aluminium value chain
The integration is expected to create opportunities for value-added aluminium products, fabrication and ancillary industries around the main facilities.
The land handover comes less than 70 days after the Adani Group and IHC signed an investment pact with the Odisha government. The agreements covered 14 proposed projects with combined investments of about INR 2 trillion (USD 20 billion), which the state government expects to generate nearly 190,000 direct and on-site employment opportunities.
The Odisha government is working to reduce the time between signing investment agreements and starting projects. The land handover for the Adani-IRH aluminium complex is an early step towards moving the project into execution.
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