Intro: Odisha secured a landmark investment agreement to establish an integrated aluminium value chain and generate thousands of jobs.
Bhubaneswar
Odisha Chief Minister Mohan Charan Majhi on Thursday hailed the signing of a Memorandum of Understanding between the Odisha government, Adani Enterprises Limited, and the United Arab Emirates-based International Holding Company as a landmark achievement in the state’s industrial development.
The agreement aims to establish an integrated aluminium value chain in Odisha through one of the country’s largest proposed foreign investments in the mining and metallurgy sector.
The ambitious project will be implemented through a joint venture between Adani Enterprises Limited and International Resources Holding, a company within the International Holding Company Group. The initiative is expected to attract an investment of approximately 11.5 billion United States dollars, equivalent to nearly Rs 1.10 lakh crore, making it one of the most significant industrial investments in Odisha’s history.
Speaking at the signing ceremony, Chief Minister Majhi described the partnership as a transformative milestone that would strengthen Odisha’s position in the global aluminium industry. He said the project is expected to generate more than 53,500 employment opportunities, providing a major boost to the state’s economy while creating long-term livelihood prospects for thousands of young people.
The Chief Minister expressed confidence that the collaboration would successfully combine Odisha’s abundant mineral resources and skilled workforce with the financial strength, technological expertise, and industrial capabilities of investors from the Middle East. He stated that this partnership would accelerate industrial growth while promoting sustainable economic development across the state.
According to the proposed plan, the project will cover the complete aluminium production chain, including bauxite mining, alumina refining, aluminium smelting, captive power generation, downstream aluminium manufacturing, and the creation of supporting industrial infrastructure. The integrated approach is expected to maximize value addition within the state instead of relying primarily on the export of raw mineral resources.
Majhi emphasized that the Odisha government’s objective extends beyond mineral extraction. He said the administration is committed to encouraging industries that process natural resources within the state, thereby creating higher-value products, expanding manufacturing capacity, and generating quality employment for local youth.
The Chief Minister also highlighted the growing global demand for environmentally sustainable industrial production and green metals. He said Odisha has already begun taking strategic steps to establish itself as a leading destination for environmentally responsible aluminium production and expressed confidence that the new investment would significantly contribute to achieving that vision. He further stated that the project aligns with the state’s long-term development goals under the vision of Samruddha Odisha 2036 and the national objective of Viksit Bharat 2047.
