Bhubaneswar: UAE’s International Holding Company led by Adani Enterprises Thursday signed an MoU with Odisha goverenment to set up an aluminum complex in the State with an investment of Rs 1.10 lakh crore. The Complex which comprises mining, refinery, smelter and a captive power plant would generate employment opportunity for 53,000 persons. Mining, Refinery, Power house.
The approximately US $ 11.5 billion project is expected to be India’s largest foreign direct investment (FDI) in the metallurgy sector and Odisha’s largest FDI.
The integrated greenfield project includes a 4mtpa refinery, a 2mtpa aluminium smelter and a 4000MW captive power plant (CPP) besides a 1mtpa downstream manufacturing park. The project will be set up in twin locations – Rayagada and Sundergarh. While the refinery would be located near the mines in Rayagada district, the smelter and the CPP would be established near the coal belt in Sundergarh diatrict.
The project will come up in two phases with investments of around Rs66,000 crore in PhaseI and Rs44,000 crore in the next phase.
The main rawmaterial bauxite would be sourced from Odisha Mining Corporation’s Sasubahumali mines and Adani Group’s Kutrumali and Bahalda mines.
