Adani Group and IHC sign massive investment deals in Odisha

The Government of Odisha, the Adani Group, and Abu Dhabi-based International Holding Company (IHC) have entered into a major investment partnership. A Memorandum of Understanding (MoU) has been signed to explore 14 new projects in Odisha with an indicative investment of approximately US$2.1 trillion (IN₹2,10,500 crore). This portfolio includes developments in trade, port infrastructure, metal downstream industries, renewable energy, healthcare, and tourism, with a potential to create significant employment.

In a related development, the Odisha government has handed over more than 7,000 acres of land to a joint venture between the Adani Group and International Resources Holding (IRH), a unit of IHC. This land, located in the Sundargarh and Rayagada districts, is designated for a proposed US$11.5-billion integrated aluminium complex. The project is expected to include an alumina refinery, an aluminium smelter, a downstream manufacturing park, and a 4,000 MW captive power plant.