Wedoany.com Report-Dec.18, Emirates Global Aluminium (EGA), a major global aluminum producer, is seeking equity partners for its proposed aluminum smelter in Oklahoma, United States, according to individuals familiar with the discussions.

The plant is expected to have a production capacity of 600,000 tonnes of primary aluminum per year, nearly doubling the US production.

The company is engaging potential investors for the facility, internally referred to as “EGA Inola.” The exact amount of funding targeted remains undetermined. Mitsubishi Corp. is among the entities in preliminary talks, though negotiations are at an early stage. Representatives from EGA and Mitsubishi declined to provide comments.

Owned by Mubadala Investment Co. of Abu Dhabi and Investment Corporation of Dubai, EGA has appointed Evercore Inc. as financial advisor for the project, as indicated in an investor document reviewed by Bloomberg News. Evercore has not responded to inquiries.

The planned smelter requires an estimated capital investment of $5 billion to $6 billion and is designed to produce approximately 750,000 tons of primary aluminum annually. EGA publicly expressed its intent to develop the plant in May, aligning with broader investment commitments from the United Arab Emirates.

Construction is anticipated to begin in late 2026, with first production expected toward the end of the decade, subject to securing suitable long-term power supply arrangements. Electricity represents more than half the production cost for aluminum, making reliable and competitive energy access essential.

The project addresses the United States' significant reliance on imported aluminum, which accounted for about half of domestic consumption last year, according to data from the US Geological Survey. A new domestic facility would contribute additional local supply capacity.

Aluminum market dynamics have shifted this year amid changes in trade policies, including tariff adjustments aimed at supporting U.S. industry. These measures have influenced pricing and supply chain configurations.

Intensifying demand for electricity across the U.S., driven in part by expanding data center infrastructure for advanced computing applications, adds complexity to securing power agreements for energy-intensive operations like aluminum smelting.

By attracting equity participation, EGA aims to share project risks and costs while advancing the development. The involvement of established investors could provide strategic and financial support for execution.

The Oklahoma location offers access to regional infrastructure and resources suitable for large-scale industrial development. Successful partnership formation would enable progression toward detailed planning and regulatory approvals.

Overall, the initiative reflects efforts to expand primary aluminum production capacity in North America through international collaboration. If realized, the smelter would enhance manufacturing capabilities and support downstream industries reliant on consistent metal supply. Stakeholders continue discussions to align on terms that facilitate viable project advancement.