Adani Group Announces Massive USD 11.5 Billion Aluminium Project in Odisha; To Create over 53,000 Jobs
BHUBANESWAR: In a massive boost to India’s industrial landscape, the Adani Group has signed a historic Memorandum of Understanding (MoU) with the Government of Odisha to invest a staggering USD 11.5 billion (approximately ₹1.08 lakh crore) to establish a world-class, integrated aluminium ecosystem in the state.
The announcement was made by Karan Adani during an MoU signing ceremony in Bhubaneswar on Thursday, July 2, 2026. The high-profile event was attended by Odisha Chief Minister Mohan Charan Majhi, Industries Minister Sampad Charan Swain, and Syed Basar Shueb, MD and CEO of IHC Abu Dhabi, alongside other senior state administration officials.
A Mega Integrated Aluminium Ecosystem
The USD 11.5 billion mega-project stands as one of the largest single-investment commitments in the global aluminium sector. Rather than focusing on a single point of production, the venture is designed to encompass the entire aluminium value chain within a single, integrated ecosystem in Odisha.
The mega-facility will feature:
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An alumina refinery with a capacity of nearly 4 million tonnes per annum (MTPA).
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An aluminium smelter producing close to 2 million tonnes per annum.
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A downstream aluminium park with a capacity of nearly 1 million tonnes per annum.
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A 4,000-megawatt captive power plant to sustain operations, complemented by a 400-megawatt green energy component.
“Today, we are gathered not merely to witness a historic MoU, but to herald the beginning of a new economic chapter for Odisha, which will shape and accelerate the growth trajectory of Bharat,” said Karan Adani, addressing the gathering.
Massive Job Creation and Economic Impact
The project is poised to become a massive socio-economic engine for the region, projecting the creation of nearly 35,000 jobs during its construction phase and supporting an estimated 18,500 jobs once fully operational.
Mr. Adani emphasized that the true value of the numbers lies in the human impact. “Behind every one of these numbers is a family, a dream, a young person acquiring a skill, a small business receiving an order, and a local entrepreneur finding a market,” he stated.
Transitioning Odisha from Resource Provider to Manufacturing Hub
Odisha holds a highly strategic position in India’s industrial architecture, housing the country’s largest reserves of bauxite, over 50% of its iron ore, and vast deposits of coal, chromite, manganese, limestone, and dolomite.
While the state has traditionally been a primary raw material supplier, this project marks a definitive shift toward value-added manufacturing. Mr. Adani noted that under the leadership of Chief Minister Mohan Charan Majhi, the proactive stance of the state government is rapidly turning Odisha into a global manufacturing destination.
The project aligns directly with Prime Minister Narendra Modi’s national mission of a Viksit Bharat (Developed India) by 2047, as well as the state’s own vision of a Samrudh Odisha (Prosperous Odisha) by 2036.
Concluding his address with a nod to the rich cultural heritage of the state, including the sacred Jagannath culture and the ongoing spirit of the Rath Yatra, Mr. Adani dedicated the project to the citizens. “To the people of Odisha, I want to say this: this project belongs to you. It is meant to create opportunities for your children, strengthen your local economy, and take Odisha to the world.”
