India’s Adani Group and the UAE’s International Holding Company (IHC) have agreed to invest $11.5 billion in a large-scale aluminium project in Odisha, India. The memorandum of understanding with the Odisha state government signals India’s largest foreign direct investment in the metallurgy sector. The joint venture between Adani Enterprises Limited and an IHC subsidiary will develop a facility with a four million metric tonne alumina refinery, an aluminium smelter, and a 4,000-megawatt power plant. The project is anticipated to generate over 53,500 jobs, boosting the regional economy. Odisha’s rich bauxite reserves position it strongly for aluminium production, currently accounting for over half of India’s total output. This investment supports India’s goal of increasing domestic aluminium production to meet rising demand and reduce import dependence, aligning with a national strategy to significantly expand output by 2047.