Adani Enterprises and IHC's IRH form 50:50 JV for USD 11.5B Odisha aluminium project

Marquee Jv AnnouncedStrategic Transactions View source PDF

ADANIENT · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+1.2%1-day move

₹3170.30

prior close

₹3192.00

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-2.4-2.0-1.8-0.9+1.2-1.9-3.6-2.9-0.6+0.2-4.3———

Up moveDown movePending

AI summary

Adani Enterprises and IHC Group company IRH signed an MoU with the Odisha government to form a 50:50 joint venture for a USD 11.5 billion (about 1.08 lakh crore rupees) integrated greenfield aluminium project. It includes a 4 MMTPA alumina refinery, 2 MMTPA aluminium smelter, 4,000 MW captive power plant, and 1 MMTPA downstream manufacturing park. To be built in two phases (66,000 cr and 44,000 cr rupees), it is expected to create 53,500 jobs and is Odisha's largest FDI proposal.

Likely market impact

Major USD 11.5B capex JV with global partner signals long-term growth; positive for stock sentiment though capital deployment will be heavy.