Adani Group to invest Rs 57,575 crore in Odisha


Adani Group, the fastest-growing diversified portfolio of infra, energy and utility businesses in India, will invest Rs 57,575 crore in Odisha.The high-level clearance authority (HLCA) of Odisha government headed by Chief Minister Naveen Patnaik on Wednesday approved the Adani Group’s proposal to set up two projects — a 4 MMTPA integrated alumina refinery and a 30 MMTPA iron ore (value addition) project.”Odisha is one of our most strategic states in which we have continued to invest and we are always appreciative of the support we have received from the Chief Minister Naveen Patnaik,” said Gautam Adani, Chairman, Adani Group.”Metals are critical commodities in which our nation must be self-reliant, and these projects are aligned with our vision of ‘Aatmanirbharta’. In addition, being a power intensive business, it is a great adjacency to the renewable energy that we are able to generate and help produce the greenest alumina anywhere. Our capital investment of Rs 57,575 crore will create 9,300 direct jobs and open up tens of thousands of indirect employment opportunities in Odisha,” he added.The 4 MMTPA integrated alumina refinery, to be set up in the vicinity of potential bauxite reserves or operational mines, will produce smelter grade (metallurgical grade) alumina, which will help India move towards import substitution.