Key Takeaways:
Abu Dhabi's International Holding Company and India's Adani Group plan to invest $11.5 billion in an integrated aluminium project in Odisha, a state official said Thursday.
"This marks the largest foreign investment in India's mining and metallurgy sector," the official said, speaking on condition of anonymity.
The joint venture targets the full aluminium value chain, from bauxite mining to smelting and downstream fabrication. Odisha, on India's eastern coast, holds about half of the country's bauxite reserves and hosts existing alumina refineries operated by Hindalco Industries Ltd. and Nalco.
The investment shows deepening UAE-India economic ties and positions India as a growing force in global aluminium supply. India produced about 4.1 million tonnes of aluminium in 2025, roughly 5.5% of global output, according to the International Aluminium Institute. The new capacity could add significantly to that share.
Project Scope and Timeline
The integrated project will span mining, refining, smelting and downstream processing, though specific capacity targets and construction timelines have not yet been disclosed. The Odisha government is expected to sign a memorandum of understanding with the joint venture partners in the coming weeks, the official said.
UAE-India Investment Corridor
The deal is the latest in a series of large cross-border investments between the UAE and India. Abu Dhabi's IHC, which manages more than $100 billion in assets, has been expanding its industrial and resource portfolio beyond the Gulf region. The Adani Group, led by billionaire Gautam Adani, has been building out its metals business alongside existing interests in ports, energy and mining.
India's aluminium demand is projected to grow 7% to 8% annually through 2030, driven by construction, automotive and renewable energy sectors, according to the Indian Aluminium Association.
This article is for informational purposes only and does not constitute investment advice.
