Egyptian Company for Metal Constructions (Metalco) announced last week its plans to build a US$2.7 billion aluminium smelter aimed at catering to both the local and overseas markets.
Per company officials, Metalco is in talks with a possible partner in the venture, which would yield an aluminium smelter with a nameplate capacity of 600 thousand metric tons per annum.
CEO Mohammed Al-Saadawi told domestic media on Friday that the firm has a pair of possible sites for the new aluminium smelter, namely Northern Port Said and the Eastern Red Sea area, known colloquially as the “Golden Triangle.”
“We expect to reach an agreement for the project soon…investments in this project are estimated at $2.7 billion and there are many ways to secure funding.”
Al-Saadawi declined to name the potential partner in the aluminium smelter project.
Metalco was founded in 1958 and boast clients from both the public and private sectors.
