Updated
Updated · Bloomberg · Jul 2Adani, IHC Sign $11.5 Billion Odisha Aluminum MOU
3 articles · Updated · Bloomberg · Jul 2Summary
- $11.5 billion is set to go into an Odisha aluminum project under a memorandum signed by Adani Enterprises and Abu Dhabi's International Holding Co.
- The plan spans the full value chain, with a 4 million-ton-per-year alumina refinery, a 2 MTPA aluminum smelter and 1 MTPA of downstream facilities.
- The agreement underscores Adani's push deeper into metals as Gautam Adani's flagship expands beyond its existing businesses.
Insights
Will Adani's $11.5B project end Odisha's paradox of importing its own abundant mineral? Adani promises an economic boom, but what is the hidden environmental cost for Odisha?