{"id":700734,"date":"2026-05-10T00:00:00","date_gmt":"2026-05-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=700734"},"modified":"2026-05-10T02:53:51","modified_gmt":"2026-05-10T02:53:51","slug":"trafigura-takes-minority-stake-in-egyptalum-smelter-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/10\/trafigura-takes-minority-stake-in-egyptalum-smelter-expansion\/","title":{"rendered":"Trafigura takes minority stake in Egyptalum smelter expansion"},"content":{"rendered":"

Trafigura goes upstream: <\/strong>Commodities trading giant Trafigura has signed a term sheet to take a minority stake in a new project company alongside the Metallurgical Industries Holding Company (MIH) and Egyptalum, according to statements here<\/a> and here (pdf)<\/a> released last week. The expansion will carry an investment ticket of USD 750-900 mn and involves doubling the Naga Hammadi complex\u2019s capacity to 600k tonnes per year by adding a 300k tpa primary smelter plus a 150k tpa anode plant.<\/p>\n

Trafigura is coming in as minority equity holder, debt provider, long-term offtake partner, and the supplier of alumina feedstock<\/strong>, according to EFG\u2019s statement. <\/p>\n

Why is this important? <\/strong>Egypt has no functioning alumina refineries<\/a> and currently imports the raw material to feed the Naga Hammadi smelter, which has historically left Egyptalum exposed to global alumina pricing and shipping cycles. <\/p>\n

REMEMBER- <\/strong>Back in September, MIH and Egyptalum signed a non-binding MoU with Aluminium Bahrain (Alba) to study a USD 3 bn alumina refinery<\/a> with a target capacity of around 2 mn tpa. <\/p>\n

And why now? <\/strong>The International Aluminium Institute projects<\/a> demand will grow 40% by 2030, with transportation alone adding 11.8 mn tonnes of new demand and electric vehicles accounting for some 63% of that growth. Supply isn\u2019t keeping pace \u2014 global inventories are at multi-year lows, and new primary capacity remains limited by high capital costs, energy constraints, and environmental permitting. That\u2019s the backdrop against which Trafigura is willing to lock in feedstock and offtake on a 25-year project.<\/p>\n

ADVISORS- <\/strong>EFG Hermes is sole financial advisor, working on both the equity and the debt raise. <\/p>\n","protected":false},"excerpt":{"rendered":"

The expansion will carry an investment ticket of USD 750-900 mn and doubles the Naga Hammadi complex\u2019s capacity<\/p>\n","protected":false},"author":1,"featured_media":700735,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[72,9068,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-700734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-ma","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"46c9629a-defc-4f25-953a-ecc2c55586b3","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/5\/408.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A trader builds a smelter","related_issue":[700719],"teaser":"The expansion will carry an investment ticket of USD 750-900 mn and doubles the Naga Hammadi complex\u2019s capacity"},"yoast_head":"\nTrafigura takes minority stake in Egyptalum smelter expansion - 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The Public Investment Fund (PIF) could snag\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/310.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":673178,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/07\/scatecs-solar-project-for-egyptalum-secures-ifo-backing-2\/","url_meta":{"origin":700734,"position":3},"title":"Scatec\u2019s solar project for EgyptAlum secures IFO backing","author":"enterpriseam admin","date":"7 October 2025","format":false,"excerpt":"Scatec will develop and operate the plant under a 25-year agreement","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/348.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546809,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/govt-could-sell-20-25-of-egyptalum-potentially-to-an-arab-sovereign-fund-25-of-new-state-owned-hotels-company-will-be-listed-on-the-egx\/","url_meta":{"origin":700734,"position":4},"title":"Gov\u2019t could sell 20-25% of Egyptalum, potentially to an Arab sovereign fund + 25% of new state-owned hotels company will be listed on the EGX","author":"enterpriseam admin","date":"30 May 2022","format":false,"excerpt":"The state plans to sell a stake in EGX-listed Egypt Aluminum (EgyptAlum) to a \u201cstrategic investor,\u201d Public Enterprises Minister Hisham Tawfik said at a conference yesterday, according to a press release (pdf). The ministry could sell a 20-25% stake to the investor, Tawfik separately told CNBC Arabia (watch, runtime: 3:55)\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/391.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599757,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/09\/egyptalum-estimates-expansion-project-at-egp-13-9-bn\/","url_meta":{"origin":700734,"position":5},"title":"Egyptalum estimates expansion project at EGP 13.9 bn","author":"enterpriseam admin","date":"9 January 2019","format":false,"excerpt":"Egypt Aluminum (Egyptalum) has revised to EGP 13.9 bn its cost estimation for a planned capacity expansion project, the company said in a bourse disclosure (pdf). The company had previously said that the project, which will aim to increase its production capacity to 570K tonnes from 320K tonnes, will cost\u2026","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/700734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=700734"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/700734\/revisions"}],"predecessor-version":[{"id":700774,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/700734\/revisions\/700774"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/700719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/700735"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=700734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=700734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=700734"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=700734"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=700734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}