IHC and Adani to Invest US$11.5 bn in Odisha Aluminium Project

07 Jul 2026 CW Team

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.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

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.

Equipment

07 Jul 2026

Plant & Equipment Secures Funding to Expand Auction Business

Plant & Equipment (P&E), a global heavy equipment marketplace, has secured asset-backed financing to accelerate the growth of P&E Auctions, its auction business serving buyers and sellers across the Middle East, Africa and other international markets.The investment will be used to acquire physically inspected construction equipment, lifting machinery and commercial vehicles, enabling the company to provide minimum guarantees on assets sold through its auction platform.Launched in December 2023, P&E Auctions has expanded rapidly following the success of the company's online mark..

Equipment

07 Jul 2026

Michelin Opens Two New Retail Service Centres in North India

Michelin India has expanded its retail network in North India with the launch of two new Michelin Tyres & Services (MTS) stores in Amritsar and Panchkula. Opened in partnership with National Auto and Universal Tyres, respectively, the new outlets aim to strengthen the company's presence in one of India's fastest-growing automotive markets.Located on Loharka Road in Amritsar and in the Industrial Area of Panchkula, each 5,000-sq-ft facility offers Michelin's range of passenger car and two-wheeler tyres, including the Primacy, Pilot Sport, Latitude Sport and LTX Trail series. The centres als..