Bhubaneswar: In a massive boost to the industrial landscape of eastern India, the Government of Odisha has signed a landmark Memorandum of Understanding (MoU) with the International Holding Company (IHC Group) of the United Arab Emirates (UAE) and the Adani Group to establish an integrated mega aluminium value chain project.
The high-profile signing ceremony witnessed the gracious presence of prominent captains of industry and senior government dignitaries. The delegation from the Utkal Chamber of Commerce and Industry Limited (UCCIL) was led by Dr. Prabodh Mohanty, President of UCCIL. He was accompanied by Shri Pankaj Lochan Mohanty, Additional Director of UCCIL and Chairman of ASSOCHAM Odisha State Council.
Both Captains of Industry added flavour to the mega signing program, chaired by Chief Minister Shri Mohan Charan Majhi, attended by Industry Minister Shri Sampad Chandra Swain, Chief Secretary Shrimati Anu Garg and Shri Hemant Sharma, Additional Chief Secretary of Industries.
The prestigious event was also , IHC Group Managing Director and CEO Syed Basar Shueb, and International Resources Holding (IRH) CEO Ali Al-Rashdi.
They joined state leaders to mark the signing of a landmark Memorandum of Understanding (MoU) between the Government of Odisha, the International Holding Company (IHC Group) of the United Arab Emirates (UAE), and the Adani Group to establish an integrated mega aluminium value chain project.
Dr. Sanjeev Mahapatra, Honorary Secretary of UCCIL, and Shri Murali Jamula, Vice President of Commerce for UCCIL also attended the program held at the Lok Seva Bhawan Convention Centre in Bhubaneswar on July 2, 2026.
Representing one of the largest mining and metallurgical undertakings in the country, the mega agreement was formally executed through IPICOL, the state’s industrial promotion agency.
This industrial venture involves a historic investment of approximately 11.5 billion USD, which translates to around 1.10 lakh crore INR. Designed to cover the entire manufacturing spectrum, the comprehensive development plan includes extensive bauxite mining operations, an alumina refinery, an aluminium smelter, and a dedicated captive power plant, alongside downstream aluminium manufacturing facilities and advanced supporting infrastructure.
This landmark collaboration is expected to elevate Odisha into a premier global hub for value-added aluminium manufacturing while generating over 53,500 direct and indirect employment opportunities across the region.