Bhubaneswar, July 2 -- In the largest foreign direct investment in Odisha's history, the Mohan Majhi government on Thursday signed a Memorandum of Understanding (MoU) with the Adani Group and Abu Dhabi-based International Holding Company (IHC) Group for an $11.5 billion (around Rs.1.10 lakh crore) integrated aluminium project spanning bauxite mining, alumina refining, aluminium smelting, and downstream manufacturing.

The agreement was signed at the state secretariat between the state's industrial promotion agency, IPICOL, and a newly formed 50:50 joint venture between Adani Enterprises Limited (AEL) and International Resources Holding (IRH), the natural resources investment platform of IHC Group. Chief Minister Mohan Charan Majhi, Indust...