HomeBUSINESSAdani to invest Rs57,575 cr In Odisha for alumina refinery, iron ore...

Adani to invest Rs57,575 cr In Odisha for alumina refinery, iron ore projects

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MUMBAI : Billionaire Gautam Adani led Adani group on Thursday said that it is expanding into new business line of metals with a commitment to invest Rs57,575 crore in Odisha to set up a 4 MMTPA integrated alumina refinery project and a 30 MMTPA iron ore (value addition) project, the group said in a statement.

This follows Adani group’s entry into the cement sector earlier a couple of months ago when it entered into a deal to acquire Holcim’s Indian cement businesses of ACC Ltd and Ambuja Cements Ltd.  

 “The High-Level Clearance Authority (HLCA) of the Govt of Odisha, headed by Chief Minister Naveen Patnaik, 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,” the group said in a statement.

 “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

Hon’ble Chief Minister Mr Naveen Patnaik,” said Mr 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 Atmanirbharta. In addition, being a power intensive business, it is a great adjacency to the renewable energy that we are able to generate and help to produce the greenest alumina anywhere. Our capital investment of 57,575 Cr will create 9,300 direct jobs and open up tens of thousands of indirect employment opportunities in Odisha,” Adani 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, the statement from Adani group said. The 30 MMTPA Iron Ore (Value Addition) project will comprise an iron ore beneficiation plant producing iron ore concentrate, a slurry pipeline for iron ore concentrate slurry and a dewatering/filtration and pellet plant to produce filter cake and pellet.

The iron ore beneficiation plant will be located in Deojhar, in northern Odisha’s Keonjhar district, while the pellet plant is to be set up in Dhamra, in the adjoining Bhadrak district. The slurry pipeline will run along the corridor of the roads between Deojhar and Dhamra.

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