EGA Sticks to Investment Plans, US Aluminum Plant Project Expected to Break Ground This Year

en.Wedoany.com Reported - Emirates Global Aluminium (EGA) Chief Marketing Officer Adel Abubakar said in London on Tuesday that despite the ongoing conflict in Iran, the company is sticking to its investment plans to increase metal production and recycling, and will not change course due to the war.

EGA is the largest aluminum producer in the Gulf region. Following an attack launched by Iran in late March, the company was forced to shut down its Al Taweelah smelter in the UAE. Currently, EGA is working to restore operations at its UAE plant to support global customers. The company exports 90% of its products. Meanwhile, EGA, in partnership with Century Aluminum, plans to build the first new primary aluminum smelter in the United States in nearly 50 years. Speaking on a panel at the CRU World Aluminium Conference, Abubakar said: "From an investment perspective, nothing has materially changed." He added that on the recycling side, the company is advancing related work; on the primary aluminum side, the Oklahoma project is progressing as planned, and EGA hopes to break ground this year.

EGA holds a 60% stake in the US smelter. The Oklahoma Department of Commerce estimates the project will cost $4 billion, with a designed annual production capacity of 750,000 metric tons of aluminum, which would more than double current US aluminum output.

EGA's other smelter in the UAE—the plant located in Jebel Ali—is operating normally as the conflict continues. Abubakar confirmed this to Reuters on the sidelines of the conference.

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