RUSAL, Ethiopia Set $1bn Smelter Plan

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Ethiopian Investment Holdings (EIH) signed an MoU with global aluminum producer RUSAL to advance a $1 billion plan for a large-scale aluminum smelter in Ethiopia. The proposed plant, with an annual capacity of 500,000 metric tons, aims to reduce aluminum imports, meet domestic demand, and strengthen the country’s industrial base. EIH said a joint technical committee has begun site selection and feasibility work. About 70% of first-phase financing is expected from committed debt providers.