RUSAL has moved to expand its industrial presence in Africa through a new agreement with Ethiopian Investment Holdings to develop a large aluminium smelter with a planned annual capacity of five hundred thousand tonnes. The first phase of the project is valued at about one billion dollars, with most of the financing expected from debt partners who have already indicated strong interest. Construction is expected to take three to four years, and the facility is designed to operate for several decades, helping Ethiopia reduce reliance on aluminium imports and build a stronger export base.
Work has begun on site identification and a detailed feasibility study to keep the project aligned with its development schedule. If completed as planned, the smelter would become East Africa’s first major aluminium refining hub, significantly boosting regional production capacity. The initiative also fits into Russia’s broader strategy to deepen its economic engagement in Africa by investing in long-term industrial and mineral-processing projects as global competition for resources intensifies.
