Bhubaneswar, (Odisha) [India] July 2 (ANI): Adani Group on Thursday announced a proposed investment of USD 11.5 billion (nearly Rs 1.08 lakh crore) in Odisha to develop an integrated aluminium manufacturing ecosystem, a project expected to generate more than 53,000 jobs during its construction and operational phases.

Speaking at the Memorandum of Understanding (MoU) signing ceremony in Bhubaneswar, Adani Enterprises Managing Director Karan Adani said the proposed project would be among the world's largest investments in the aluminium sector and would significantly boost Odisha's industrial development.

'With a proposed investment of USD 11.5 billion, translating to nearly Rs 1.08 lakh crore, this is among the most significant aluminium ecosystem investments anywhere in the world. But its true significance lies not only in the size of the investment. It lies in the depth of its impact,' Karan Adani said.

According to him, the project will integrate the entire aluminium value chain and include an alumina refinery with a capacity of nearly 4 million tonnes per annum, an aluminium smelter of around 2 million tonnes per annum, and a downstream aluminium park of about 1 million tonnes per annum. The project will also be backed by a captive power plant of around 4,000 MW along with a 400 MW green energy component.

Highlighting the employment potential of the project, Karan Adani said it would create substantial direct and indirect livelihood opportunities across the state.

'During construction, this project will generate nearly 35,000 jobs. During operations, it will support around 18,500 jobs. Behind every one of these numbers is a family, a dream, a young person acquiring a skill, a small business receiving an order, a local entrepreneur finding a market, and a community seeing new opportunities,' he said.

Describing the investment as a milestone in Odisha's industrial journey, Karan Adani said the state is rapidly transforming from a supplier of raw materials into a value-added manufacturing hub, aided by strong policy support and proactive governance.

He said the project aligns with India's vision of becoming a developed nation by 2047 while contributing to Odisha's aspiration of becoming a prosperous state by 2036 through value-added manufacturing and employment generation.

Reiterating the Adani Group's long-term commitment to the state, Karan Adani said Odisha occupies a strategic position in the group's growth plans.

'To the people of Odisha, I want to say this: this project belongs to you. It is meant to create opportunities for your children, strengthen your local economy, support your entrepreneurs, and take Odisha to the world,' he said.

Karan Adani also thanked the Odisha government for its vision of building a globally competitive industrial ecosystem and welcomed the participation of IHC Abu Dhabi and other partners in the proposed project. (ANI)