Adani Enterprises, UAE’s IHC to invest ₹1.08 lakh crore in Odisha aluminium project
Adani Enterprises and the UAE’s International Holding Company have signed an agreement to invest ₹1.08 lakh crore in an aluminium project in Odisha. The project will be developed in two phases and includes a refinery, smelter, and power plant.
Why it matters
This massive foreign direct investment represents a significant boost to India's industrial manufacturing capacity and the state of Odisha's economy.
Adani Enterprises and UAE’s International Holding Company (IHC) Group signed a Memorandum of Understanding (MoU) on Thursday (July 2, 2026) to form a 50:50 joint venture to set up an aluminium project in Odisha with an investment of $11.5 billion (₹1.08 lakh crore).
The article reports on a business agreement using neutral language and factual financial figures.
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