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Adani Enterprises, International Resources to Develop $11.5 Billion Aluminum Project in India

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India's Adani Enterprises (NSE:ADANIENT, BOM:512599) is partnering with Abu Dhabi-based International Resources Holding to develop an $11.5 billion aluminum project in the Odisha province, according to a Thursday statement.

The firms entered into a memorandum of understanding to form a 50-50 joint venture that would build an alumina refinery with a capacity of 4 million metric tonnes per annum.

The project will also include an aluminum smelter and a downstream manufacturing park, alongside a 4,000-megawatt captive power plant.

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