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Russian aluminum giant RUSAL has signed a $1 billion Memorandum of Understanding with Ethiopian Investment Holdings to build a 500,000-ton annual capacity aluminum smelter in Ethiopia. The project, expected to take three to four years to complete, will potentially operate for up to 50 years, creating East Africa’s first major aluminum refining hub and boosting the continent’s industrial and export capacity. Africa’s aluminum production is currently limited, with most bauxite exported overseas. For Ethiopia, the plant is a strategic step toward reducing costly aluminum imports and positioning the country as a key exporter. The deal significantly boosts Russia’s economic footprint in Africa, capitalizing on shifting geopolitical alliances. It reflects a broader trend of Moscow securing long-term, strategic industrial projects across the continent as it competes for influence and access to critical minerals.
Business Insider Africa