SEATTLE (Scrap Monster): Adani Enterprises Ltd. announced plans to invest approximately $5.2 billion towards building a new alumina refinery in Odisha, eastern India. This marks the group’s entry into aluminium sector, which is currently being dominated by Aditya Birla Group and Vedanta Resources.
The official twitter handle of the State’s Chief Minister noted that the Adani Group company has obtained approval for setting up an alumina refinery and a captive power plant in Rayagada at an investment of INR 416.53 billion. The refinery is expected to have an annual processing capacity of 4 million tonnes per annum. The High-Level Clearance Authority (HLCA) of the government approved the company’s proposal to set up an integrated alumina refinery and an iron ore project.
The alumina refinery will be capable of producing metallurgical grade alumina. The iron ore project will comprise an iron ore beneficiation plant, a slurry pipeline and a dewatering/filtration and pellet plant.
Gautam Adani, Chairman, Adani Group noted that Odisha is one of the most strategic states which it has continued to invest. He appreciated the State government’s ongoing support to various projects.