Adani Group now eyes aluminium sector, to set up alumina refinery in Odisha

• Shubham
• 11 August, 2022

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By: Shubham Ghosh

India’s Adani Enterprises led by billionaire Gautam Adani is planning to make an alumina refinery in the eastern coastal state of Odisha with an investment of $5.2 billion (£4.2 billion), Bloomberg reported.

The company has reportedly received a nod from the government of Odisha to set up the refinery and a captive power plant in Rayagada worth an investment of Rs 41,653 crore (£4.28 billion). According to Bloomberg which cited a statement from the state’s government, the refinery will have an annual capacity of four million tonnes.

Last December, the Adani Group had set up Mundra Aluminium which showed its ambitions to make inroads into a sector which is dominated by the Aditya Birla Group led by Kumar Mangalam and Vedanta Group of Anil Agarwal.

Earlier in August, Adani Road Transport, a subsidiary of Adani Enterprises, acquired toll road assets of Macquarie Asia Infrastructure Fund for Rs 3,110 crore (£319.6 million).

It acquired Gujarat Road and Infrastructure Company Limited and Swarna Tollway Private Limited from the southern state of Telangana.