Odisha Chief Minister Mohan Charan Majhi on Thursday described the signing of the Memorandum of Understanding (MoU) between the Odisha government with Adani Enterprises Limited and Abu Dhabi-based International Holding Company (IHC) in the United Arab Emirates (UAE) for an integrated aluminium value chain project as a "landmark moment in the state's industrial history".
The proposed project will be developed through a joint venture between Adani Enterprises Limited and International Resources Holding (IRH), an IHC Group company. The Chief Minister, who also attended the event, said this historic partnership paves the way for what is expected to be India's largest Foreign Direct Investment in the mining and metallurgy sector, creating more than 53,500 employment opportunities while positioning Odisha as a key player in the global aluminium supply chain.
Speaking on the occasion, Chief Minister Majhi said the landmark project envisages an investment of $11.5 billion (around Rs 1.10 lakh crore). He expressed strong confidence that a prosperous partnership would be forged by combining Odisha's resources and talent with the capital and technological expertise of the Middle East.
The Chief Minister also noted that the project will facilitate the development of bauxite mining, alumina refining, aluminium smelting, captive power plants, downstream aluminium manufacturing, and supporting infrastructure in Odisha. "The state government's primary objective is not merely to export Odisha's mineral resources but to promote industrialisation through substantial value addition and generate employment opportunities for the youth," Chief Minister Majhi said.
Highlighting the growing global emphasis on green metals and environmentally sustainable industrialisation, the Chief Minister added that Odisha has initiated efforts to play a leading role in this emerging sector. He expressed confidence that the project would significantly contribute to achieving these objectives.
The Chief Minister also said that the state government is moving forward with the vision of 'Samruddha Odisha 2036' and 'Viksit Bharat 2047'. He added that the partnership with IHC Group would extend beyond the proposed aluminium project to include collaboration in emerging sectors such as research and development (R&D), metallurgy, digital systems, and Global Capability Centres (GCCs).
The Chief Minister also assured that the Odisha government would provide all necessary support for the successful implementation of the project, including land, water, power, logistics, and statutory approvals, in a coordinated and time-bound manner.
Speaking on the occasion, Karan Adani, Managing Director of Adani Ports and Special Economic Zone (APSEZ) Limited, lauded Odisha's rich cultural heritage, abundant mineral resources, and immense industrial potential. He said that Odisha, with the country's largest bauxite reserves and more than 50 per cent of India's iron ore resources, has emerged as the backbone of the nation's industrial sector.