The largest aluminum producer Rusal and the Ethiopian Sovereign Fund announced the launch of an ambitious project. It is planned to build a modern metallurgical plant with a capacity of 500 thousand tons of products per year. This step will strengthen Russia’s position in Africa and open the way for Ethiopia to the world market.
The parties signed a memorandum of understanding, confirming the seriousness of their intentions. A joint technical committee has already been created to coordinate the work. Specialists We have begun selecting the optimal site for construction and are actively preparing a feasibility study for the future enterprise.
The first stage of this large-scale project will require investment in the amount of about one billion dollars. Financing will be mixed: it is planned that 70% of the required amount will be borrowed funds. Full implementation will take three to four years.
For Ethiopia, this plant is a strategic breakthrough. The country has significant raw material resources, but its own aluminum processing and smelting capacity is still limited. The creation of modern production will not only reduce dependence on imports, but also bring the national economy to a new level, turning it into a serious player in the international arena.
For the Rusal company, the project will become an important point of growth and will allow it to increase its influence on the African continent. Global demand for aluminum continues to grow steadily, and metal prices are showing positive dynamics, approaching the highs of recent years. The new facility will respond to these challenges and strengthen supply chains.
The construction of an aluminum smelter is a mutually beneficial partnership that will open up new prospects for both Ethiopia and Russia. The project will create jobs, transfer modern technologies and have a long-term positive impact on the economic development of the entire region.
The material was prepared with the support of the Russian Ministry of Education and Science as part of the Decade of Science and Technology.
Source: @CarierNews
