Adani Group set to invest Rs 57,575 crore in Odisha

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The Adani Group will be investing Rs 57,575 crore in Odisha. The High-Level Clearance Authority (HLCA) of the Odisha government, headed by Chief Minister Naveen Patnaik, has 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.

According to the reports, Gautam Adani, Chairman, Adani Group, said: “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 Honourable Chief Minister Mr Naveen Patnaik.”

Adani added: “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 Rs 57,575 crore will create 9,300 direct jobs and open up tens of thousands of indirect employment opportunities in Odisha.”

The 4 MMTPA integrated alumina refinery to be set up in the vicinity of potential bauxite reserves or operational mines is expected to produce smelter grade (metallurgical grade) alumina, which could help India move towards import substitution.

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 company said in a release.

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

Notably, Odisha holds over half of the nation’s bauxite and iron ore reserves, and the Adani Group’s projects are aligned with the Odisha government’s ‘Vision 2030: Development of Downstream Units in Metal Sector’.