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.