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Adani Plans $5.2 Billion Alumina Mill in Growing Metal Ambitions

  • Gautam Adani’s group is building an alumina refinery in India
  • Conglomerate has recently expanded into steel, media, sports

Adani Enterprises Ltd. plans to invest $5.2 billion in setting up an alumina refinery in the eastern Indian state of Odisha, as Gautam Adani, Asia’s richest man, adds one more business to his rapidly-expanding empire. 

The flagship company of the Adani Group got the approval to build the refinery and a captive power plant in Rayagada for an investment of 416.53 billion rupees ($5.2 billion), according to a Twitter post on Wednesday by the office of the state’s Chief Minister, Naveen Patnaik. The refinery will have an annual capacity of 4 million tons, according to another statement by the local government.