ARTICLE AD BOX
Mumbai: After Gautam Adani-led Adani Group operationalised its copper smelter plant in Gujarat, the group is now aiming to venture further into metals with a proposed $11.5 billion aluminium mega plant in Odisha. According to widely publicised reports, Adani has joined forces with Abu Dhabi-based venture capital major International Holding Company (IHC) to execute the project.
As per the plan, the Adani Group aims to set up an integrated plant including both smelting and refining operations, along with a captive power plant to support the high energy requirements for aluminium production. Adani’s Dhamra port would be used to arrange logistics for the plant.
Though specific details are yet to come, both parties are expected to invest in the project through a combination of equity and debt.
Once completed, the plant will have the potential to increase India’s aluminum output by at least 50% annually.
Despite being the second-largest aluminum producer after China, India has had to import aluminum as domestic production isn’t enough to meet demand. India’s per capita demand for aluminium is also expected to rise to 8.5 million tonnes by 2030 from 4.2 million tonnes in 2025. To meet demand, India will need to expand its production capacity to about 37 million tonnes annually.
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