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Ethiopia, RUSAL Advance Plan for $1 Billion Aluminium Smelter as MoU Signed

November 28, 2025
Dagmawi Zeleke

Addis Ababa — Ethiopian Investment Holdings (EIH) has signed a Memorandum of Understanding (MoU) with RUSAL, one of the world’s largest producers of low-carbon aluminium, to push forward plans for a major aluminium smelter in Ethiopia.

The proposed plant will have an annual production capacity of 500,000 metric tons, positioning Ethiopia as a competitive player in both regional and global aluminium markets. The project aims to meet rising domestic demand, support industrial expansion, and curb the country’s foreign-currency spending on aluminium imports.

According to EIH, the smelter is expected to be developed over 3 to 4 years, with an operational lifespan of up to 50 years, making it one of the country’s most significant long-term industrial investments. The first phase of the project, valued at around USD 1 billion, is set to receive 70% financing from committed debt providers who have already shown strong interest in backing the initiative

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