Odisha-IHC MoU to open collaboration opportunities in GCCs, R&D and green metals: Odisha CM
Bhubaneswar, July 2
The MoU signed with International Holding Company for aluminium value chain project opens partnership opportunities across sectors including green metals, R&D, Global Capability Centres, bolstering Odisha's industrial ecosystem, said Odisha CM Mohan Charan Majhi.
Adani Group announced a proposed investment of USD 11.5 billion (nearly Rs 1.08 lakh crore) in the state to develop an integrated aluminium manufacturing ecosystem. Speaking at the Memorandum of Understanding (MoU) signing ceremony in Bhubaneswar on Thursday, CM Mohan Charan Majhi said the MoU signed with International Holding Company (IHC), Abu Dhabi, for a proposed integrated aluminium value chain project marks the beginning of a new chapter in Odisha's global industrial partnerships.
The proposed project will span the entire aluminium value chain, including bauxite mining, alumina refining, aluminium smelting, captive power generation, downstream manufacturing and allied infrastructure.
CM Majhi said the project is expected to generate around 35,000 jobs during construction and 18,500 jobs during operations, significantly boosting employment and industrial development in the state.
Stressing Odisha is committed to value addition, he said the state's mineral wealth must drive manufacturing, job creation and prosperity for its people.
Adding to this, he highlighted the "partnership also opens avenues for collaboration in green metals, R&D, metallurgy, engineering, digital systems, project management and Global Capability Centres, strengthening Odisha's industrial ecosystem."
CM Majhi said the state is rapidly diversifying its industrial base and has attracted major investments through proactive investor outreach.
Assuring full support, CM Majhi said the Odisha government will provide time-bound facilitation for land, power, water, logistics, connectivity, statutory approvals, skilling and ecosystem development to ensure timely implementation of the proposed project.
The CM further said the MoU reinforces Odisha's position as a preferred global investment destination. In a further development, Adani Enterprises Managing Director Karan Adani said the project will integrate the entire aluminium value chain and include an alumina refinery with a capacity of nearly 4 million tonnes per annum, an aluminium smelter of around 2 million tonnes per annum, and a downstream aluminium park of about 1 million tonnes per annum.
— ANI
Reader Comments
Ambitious project, but I hope environmental concerns are properly addressed. Bauxite mining and aluminium smelting can be very damaging if not done responsibly. The green metals angle sounds promising though. Let's see how it plays out.
USD 11.5 billion from Adani Group and collaboration with IHC - this is a game-changer for Odisha. The state has so much mineral wealth but it was always sent out raw. Finally, value addition within the state! Smart politics by CM Majhi.
Good to see the state government promising time-bound clearances and support for land, power, water. That's exactly what investors want to hear. But implementation is key - hope the bureaucracy doesn't slow things down like usual. 🙏
As someone working in the metals sector, this is exciting! The integrated aluminium value chain model with bauxite mining, alumina refining, smelting and downstream manufacturing will make Odisha a global hub. The R&D and GCC aspects are especially forward-thinking.
My only concern is whether the local communities, especially those in mining areas, will benefit. Past experiences with big projects haven't always been fair to the adivasi population. Hope the government ensures proper rehabilitation and local hiring.
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