Adani Group to invest $5 billion in Odisha to set up an alumina refinery

The Indian multinational conglomerate, Adani Group, which already operates ports, airstrips, mining development and gas distribution businesses in Odisha, has received approval from the state government for building an alumina refinery.

As a result of the high-level clearance authority (HLCA) led by chief minister Naveen Patnaik's approval, the ten proposals are set to generate about 24,047 jobs with an investment potential of $9.39 billion (INR 74,620 crores). For the state government, the approval came months before the third edition of the Make in Odisha conclave.

Adani Enterprises, a wholly owned subsidiary of Adani Group, has received approval to build a 4 MTPA alumina refinery and 175 MW captive power station in the bauxite-rich Kashipur area of the Rayagada district. Odisha will receive the single-largest investment from a company led by Gautam Adani of around $5 billion (INR 41,653 crore).

This would be the third alumina refinery in the region since Aditya Birla's Hindalco has already set up a unit in the area and received approval for a second one near Kashipur.

Kalinganagar, the steel hub, will be the site for a Tata Steel Limited (growth shop) industrial structure unit and steel plant equipment facility. Orissa Alloy Steel Pvt Ltd will invest INR 8,000 crore in the project, a 2.5 MTPA facility.

As part of HLCA's approval, Aarti Steels Limited's Athagarh plant will be expanded at a cost of INR 3,000 crore, and ArcelorMittal Nippon Steel India will build a slurry pipeline and beneficiation plant in Keonjhar district for INR 1,490 crore, and Rungta Metals Private Limited intends to build a steel plant in Rairangpur, Mayurbhanj for INR 1,490 crore.