{"id":704502,"date":"2026-05-21T00:00:00","date_gmt":"2026-05-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=704502"},"modified":"2026-05-21T02:57:15","modified_gmt":"2026-05-21T02:57:15","slug":"lenders-compete-to-fund-egyptalums-usd-3-bn-alumina-facility","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/21\/lenders-compete-to-fund-egyptalums-usd-3-bn-alumina-facility\/","title":{"rendered":"Lenders compete to fund EgyptAlum\u2019s USD 3 bn alumina facility"},"content":{"rendered":"

International <\/strong>lenders are<\/strong> competing to fund the USD 3 bn alumina refinery <\/strong>Egypt Aluminum (EgyptAlum) is building with Aluminium Bahrain (Alba)<\/strong> \u2014 the largest alumina refining and production facility ever built in Egypt, EgyptAlum Managing Director Mahmoud Agour tells EnterpriseAM. EgyptAlum will fund half of the estimated cost of the project \u2014 around USD 1.5 bn \u2014 with the financing structure open to review at a later date. <\/p>\n

The Alba partnership agreement was signed <\/strong>back in September<\/a><\/strong>, but has seen some delays tied to regional developments, Agour says. EgyptAlum already secured land in Safaga near the port to support export logistics and is working through formal procedures and licensing. \u201cConstruction and production startup should take around three years once all procedures are complete,\u201d Agour tells us.<\/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

The bigger picture:<\/strong> Together with the Trafigura-backed smelter expansion<\/a> announced earlier this month and a new 600k-ton greenfield<\/a> EgyptAlum is negotiating in East Al Tafreah with Gulf and foreign investors, the Alba agreement could lift Egypt\u2019s total aluminum production capacity to around 1.2 mtpa from roughly 300k tons today, Agour says.<\/p>\n

The green hedge is also advancing.<\/strong> Norwegian firm Scatec is close to completing the first 500 MW phase<\/a> of its 1.1 GW solar project in Naga Hammadi \u2014 critical for keeping EgyptAlum\u2019s exports competitive as the EU\u2019s Carbon Border Adjustment Mechanism kicks in.<\/p>\n","protected":false},"excerpt":{"rendered":"

EgyptAlum and Alba are pushing forward with the largest alumina refining facility the country has ever built as international lenders compete for funding<\/p>\n","protected":false},"author":1,"featured_media":704503,"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":[7272],"tags":[1008,72,7196,125,8707,131,151,573],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-704502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-egypt-aluminum","tag-enterpriseam","tag-industry","tag-investment-watch","tag-investments","tag-manufacturing","tag-renewables","tag-scatec","wpautop","entry"],"acf":{"mongo_id":"26a0b1ec-4e06-48e6-b69b-bf319e2d1040","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1722.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Circling the refinery","related_issue":[704494],"teaser":"EgyptAlum and Alba are pushing forward with the largest alumina refining facility the country has ever built as international lenders compete for funding"},"yoast_head":"\nLenders compete to fund EgyptAlum\u2019s USD 3 bn alumina facility - 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The disclosure doesn\u2019t name the investors buying in,\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547556,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/27\/a-30-stake-in-the-new-hotels-company-will-be-up-for-grabs-the-saudis-have-their-eyes-on-the-stake-in-egyptalum\/","url_meta":{"origin":704502,"position":2},"title":"A 30% stake in the new hotels company will be up for grabs + the Saudis have their eyes on the stake in Egyptalum","author":"enterpriseam admin","date":"27 June 2022","format":false,"excerpt":"PIF has its eyes on our tourism and aluminum sectors: The Saudi sovereign wealth fund could be snagging a \u201csignificant\u201d stake in the new hotels company made up of several merged state hotels, Hapi Journal quotes Public Enterprises Minister Hisham Tawfik as saying. 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":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":704502,"position":3},"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":615460,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/19\/govt-and-emirati-company-team-up-for-usd-3-bn-aluminum-factory\/","url_meta":{"origin":704502,"position":4},"title":"Gov\u2019t and Emirati company team up for USD 3 bn aluminum factory","author":"enterpriseam admin","date":"19 February 2024","format":false,"excerpt":"The factory will produce 600k tons of aluminum a year","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\/2024\/2\/1722.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":704502,"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\/704502","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=704502"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/704502\/revisions"}],"predecessor-version":[{"id":704543,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/704502\/revisions\/704543"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/704494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/704503"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=704502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=704502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=704502"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=704502"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=704502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}