RUSAL has signed a Memorandum of Understanding (MoU) with Ethiopian Investment Holdings (EIH) to initiate a large-scale aluminium smelter plant in Ethiopia.

The facility is estimated to have an annual production capacity of 500,000 Mt, positioning Ethiopia as a competitive supplier for both regional and global markets.

The project is designed to meet growing domestic demand, support industrial development, and significantly reduce foreign currency outflows currently spent on aluminium imports.

With an expected project timeline of three to four years, the completed plant is expected to operate for up to 50 years, contributing long-term industrial value.

The first phase, valued at approximately $1 billion, is anticipated to receive 70% funding from committed debt providers who have expressed strong interest in supporting the initiative.

Following the MoU signing, RUSAL and EIH have established a joint technical committee to oversee project preparation.

Preliminary activities — including site identification and a comprehensive feasibility study — are underway to ensure timely progress.

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