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Adani, IHC to Build Mega Aluminium Plant in India
2 Jul
Summary
- Adani and IHC plan $11.5 billion investment for a mega aluminium plant.
- The new plant in Odisha aims for an annual capacity of over 2 million tonnes.
- This venture represents the largest foreign investment in India's metals sector.
Adani Group and Abu Dhabi's International Holding Company (IHC) have announced plans to jointly invest $11.5 billion in the next few years to construct a major aluminium plant. This ambitious project is slated to be located in Odisha and is expected to significantly increase India's aluminium production capacity.
The proposed integrated facility will combine smelting and refining operations, aiming for an annual capacity of over 2 million tonnes. This development could elevate India's total aluminium capacity by approximately 50%. The investment, funded through a mix of debt and equity, is poised to become the largest foreign investment recorded in India's metals and minerals sector to date.
This venture marks Adani's second foray into metals, following its copper smelter. The move aligns with the Adani Group's broader strategy to secure essential commodity supplies crucial for its expanding infrastructure empire. Details regarding the specific investment split between Adani and IHC were not disclosed.
