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India’s metals sector is set for a major boost after Adani Enterprises Ltd. (AEL) and International Holding Company (IHC) of the UAE signed an agreement to establish a $11.5-billion aluminium project in Odisha, one of the country’s largest proposed investments in the sector. The two companies will develop the project through a 50:50 joint venture, aiming to strengthen India’s aluminium production capacity while deepening economic ties between India and the United Arab Emirates.
The integrated project will include an alumina refinery, an aluminium smelter, a captive power plant and supporting infrastructure. It is expected to create thousands of direct and indirect jobs while supporting industrial growth in Odisha, a state that holds some of India’s largest bauxite reserves. The investment also aligns with India’s push to expand domestic manufacturing and reduce dependence on imported metals.
According to the companies, the venture seeks to build a globally competitive aluminium business by combining Adani Group’s infrastructure and project execution capabilities with IHC’s financial strength and international investment expertise. Aluminium demand is projected to rise steadily, driven by growth in sectors such as renewable energy, electric vehicles, construction, transportation and packaging.
The announcement comes as India accelerates investments in strategic industries under its manufacturing-led growth agenda. Aluminium is increasingly viewed as a critical material for the clean energy transition because of its lightweight properties and wide use in power transmission, mobility and green infrastructure.
Industry experts believe the project could strengthen India’s position in the global aluminium value chain while attracting further foreign investment into the country’s metals and mining sector.
The agreement also reflects growing collaboration between Indian and UAE businesses across infrastructure, manufacturing and energy, reinforcing the expanding strategic partnership between the two countries.
