Abu Dhabi's International Holding Company (IHC) will invest US$11.5 bn in an integrated aluminium project in the eastern Indian state of Odisha in a joint venture with the Adani Group, a state official said. The official said the announcement represented the country's largest foreign investment in mining and metallurgy. Officials said the venture would span both mining and metallurgical activities across several facilities in the state.

The project has been described as integrated, encompassing upstream bauxite extraction and downstream smelting and metallurgy, and is intended to develop a complete value chain within the state. Odisha has long been a focus for mineral and metal investment and the partnership with the Adani Group positions the venture to draw on both international capital and domestic industrial capacity. The Adani Group is an Indian conglomerate with interests across ports, energy and resources. The scheme is expected to leverage existing mineral reserves and transport links to support large scale operations.

Officials characterised the commitment as a major infusion of foreign capital that is expected to support industrial expansion and regional infrastructure, and to generate employment opportunities across multiple sectors. The scale of the proposed investment sets a new benchmark for foreign involvement in India's extractive and metallurgical industries. State authorities indicated that detailed project approvals, regulatory clearances and investment schedules would follow further joint planning. State authorities said they would work with federal agencies to progress necessary approvals and oversight.

The report by Reuters on two July 2026 said the announcement came from a state official while both partners complete due diligence and planning. No financial timetable or construction schedule was provided in the initial statement from state authorities. The joint venture between IHC and the Adani Group, as described by officials, will focus on creating an integrated aluminium complex in Odisha. Further details, including planned investment phases and project roles, were not disclosed.