Bhubaneswar, July 2 (APAC Media): UAE-based International Holding Company (IHC) is set to sign a Memorandum of Understanding (MoU) with the Odisha Government on Thursday to establish an integrated aluminium value chain project involving an investment of ₹1.10 lakh crore.
According to government sources, the project, to be developed in partnership with the Adani Group, is expected to be the largest foreign direct investment (FDI) in Odisha’s history and the biggest FDI proposal in India’s metallurgy sector.
Today marks a defining milestone in Odisha’s industrial journey. I was pleased to join the MoU signing ceremony between IPICOL and International Holding Company (IHC), Abu Dhabi, for a proposed mega integrated aluminium value chain project in Odisha.
AdvertisementThe proposed project will be… pic.twitter.com/u3IrIEWZ6x
— Mohan Charan Majhi (@MohanMOdisha) July 2, 2026
Integrated Aluminium Value Chain
The proposed project will span the entire aluminium production chain, from bauxite mining to downstream manufacturing.
It includes the development of a 4 million tonnes per annum (MTPA) alumina refinery, a 2 MTPA aluminium smelter, a 4,000 MW captive power plant, a 1 MTPA downstream aluminium manufacturing park, and supporting infrastructure, along with the necessary raw material linkages.
Employment and Industrial Growth
The integrated project is expected to create employment opportunities for around 53,500 people, providing a significant boost to the state’s industrial ecosystem.
Officials said the investment aligns with Odisha’s strategy to strengthen its position as a leading hub for metals and mineral-based manufacturing in India.
About IHC
International Holding Company (IHC) is one of the world’s largest investment holding companies, with business interests spanning infrastructure, mining, manufacturing, energy, technology, healthcare, and financial services.
The company is among the UAE’s largest listed private firms and is backed by the Royal Group, which is owned by the Abu Dhabi royal family.
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