UAE's IHC to Invest $11.5 Billion in Greenfield Aluminium Mega Project in Odisha

During high-level bilateral discussions held on the sidelines of the 18th BRICS Summit in New Delhi, Prime Minister Narendra Modi and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan formally acknowledged a massive $11.5 billion investment proposal by UAE's International Holding Company (IHC). The conglomerate plans to establish an integrated greenfield aluminium project in Odisha, marking the largest single foreign direct investment in India's metallurgical sector. The proposed mega-project includes an alumina refinery, a high-capacity aluminium smelter, captive power infrastructure, and a downstream manufacturing park. The facility is expected to enhance India's domestic aluminium manufacturing capacity by nearly 50 percent, positioning Odisha as a global hub for metals and downstream industrial production. The strategic initiative is projected to generate over 53,000 direct and indirect employment opportunities while attracting extensive ancillary industrial activities across the state. The leaders highlighted that the investment reflects the deepening India-UAE Comprehensive Strategic Partnership, underpinned by expanding commercial, energy, and technological ties. Discussions also focused on potential engagements involving L'Imad, Abu Dhabi's newest sovereign investment fund, and identified emerging areas of cooperation such as artificial intelligence, space, defence, nuclear energy, and semiconductor supply chains. The commitment underscores India's growing appeal as a premier destination for large-scale industrial capital and foreign direct investment.