Bhubaneswar, July 2 -- The Adani Group is set to compete head-on with the Aditya Birla Group and the Vedanta Group through its planned $11.5 billion entry into aluminium production in an equal partnership with Emirati investment firm International Holding Company (IHC).

The proposed 2 million tonnes per annum (mtpa) plant in Odisha would also help India reduce its reliance on imported aluminium, a light-weight metal that is increasingly used in electric vehicles and the batteries that power them. India consumes 5.5 million tonnes of the metal a year, of which just over 4 million tonnes is produced locally.

Adani Enterprises Ltd, the group's flagship company, IHC and the Odisha government on Wednesday signed an agreement to set up the pl...