Adani Group To Set Up Alumina Refinery In Odisha?

As Asia’s richest man, Gautam Adani, wishes to add another business to his fast growing empire. Adani Enterprises Ltd. is reportedly in talks to invest $5.2 billion in developing an alumina refinery in the eastern Indian state of Odisha.

According to a Twitter tweet on Wednesday by the office of the state’s Chief Minister, Naveen Patnaik, the flagship firm of the Adani Group has received licence to develop the refinery and a captive power plant in Rayagada for an investment of 416.53 billion rupees ($5.2 billion). According to another local government announcement, the refinery would have an annual capacity of 4 million tonnes.

An Adani Enterprises official declined to comment on the project in Odisha or the company’s future ambitions for its nascent aluminium sector. An official statement is awaited for the same. This project would be yet another flagship feather in Adani’s diverse cap.