The Odisha government has achieved a significant milestone by handing over documents for over 7,000 acres of land for the proposed Adani Group-International Resources Holding (IRH) joint venture's integrated greenfield aluminium complex within just 70 days of signing the MoU. According to reports from Business Standard, Chief Minister Mohan Charan Majhi handed over the land documents in the presence of India's Ambassador to the UAE Deepak Mittal, demonstrating the state's commitment to accelerated project execution. 4,000 acres are located in Sundargarh district and 3,000 acres in Rayagada district, with the land documents handed over on September 9, 2026, making the turnaround from investment commitment to land handover 67 days after the MoU was signed on July 2, 2026.
The $11.5 billion (around ₹1.08 trillion) project represents India's largest foreign direct investment in mining and metallurgy and the biggest FDI proposal for Odisha. As reported by Business Standard, the Adani Group and IRH, a unit of Abu Dhabi-based International Holding Company (IHC), have proposed to invest in a 50:50 joint venture to develop the integrated aluminium complex. The project will be executed in two locations and two phases, with ₹66,000 crore earmarked for the first phase and another ₹42,000 crore for the second phase.
The proposed complex will cover the entire aluminium value chain, featuring a 4 million tonnes per annum (mtpa) alumina refinery, a 2 mtpa aluminium smelter, a 1 mtpa downstream manufacturing park and a 4,000 megawatt (Mw) captive power plant, including 400 Mw of green power capacity. According to Business Standard, the aluminium refinery will be located in Rayagada district closer to bauxite mines, while the smelter and captive power plant will be established in Sundargarh district. The complex will handle the entire aluminium value chain from alumina production and aluminium smelting to downstream manufacturing.
The swift land handover has led to an increased investment commitment from IHC, with the company now expressing interest in investing $22 billion in Odisha, contingent on the state government maintaining the same speed of business operations. As reported by Business Standard, Hemant Sharma, additional chief secretary of the industries department, noted that the company is interested in investing $22 billion in Odisha with the condition that the state government maintains the same business facilitation speed. "We started our engagement with IHC with an $11.5 billion FDI commitment, and now they have doubled the proposed investment," Sharma stated at a roadshow in Dubai.
The land handover is part of a comprehensive investment agreement involving 14 projects with a combined estimated investment of ₹2.1 trillion ($22 billion). According to Business Standard, the proposed projects span multiple sectors including mining and metals, iron-ore beneficiation, renewable energy, artificial intelligence data centres, petrochemicals, healthcare and sustainable urban development. Major proposals include a ₹50,000 crore hyperscale AI data centre hub at Naraj in Kataka district, a ₹40,000 crore coal-to-chemicals complex at Bedabahal, a ₹25,000 crore iron-ore beneficiation, slurry and pellet chain, and a ₹25,000 crore renewable energy storage and equipment manufacturing platform. The projects are expected to generate nearly 189,700 direct and on-site employment opportunities.
