Adani Group to invest US$ 5.2 billion in Odisha to set up alumina refinery

Adani Enterprises Ltd. announced plans to invest US$ 5.2 billion to setup an alumina refinery in the eastern Indian state of Odisha. This investment will add one more business to the rapidly growing empire. The refinery has an annual capacity of producing 4 million tons of alumina.

In December 2021, Mr. Gautam Adani opened Mundra Aluminium Ltd. as a wholly owned subsidiary, indicating his intentions to compete in a market controlled by giants like the Aditya Birla Group and the London-based Vedanta Resources Ltd. 

Adani Enterprises raised Rs. 60.7 billion (US$ 0.76 billion) in June 2022 for a new, 500,000-ton Gujarat copper refinery complex through a syndicated club loan. In January 2022, the business also disclosed a partnership with South Korean steel giant Posco to explore business potential in India, including the setting up of a green steel mill.

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