A Russian industrial company has signed a $1 billion agreement to develop a 500,000-ton aluminum production facility in Ethiopia, aiming to bolster the country’s industrial capacity and position it as a key player in Africa’s metals sector. According to Reuters, the project will be located in the Oromia region and is expected to create thousands of local jobs during construction and operation.
The Ethiopian Ministry of Mines and Petroleum highlighted that the plant will enhance domestic production, reduce reliance on aluminium imports, and attract further foreign investment. Bloomberg reports that the facility will incorporate advanced smelting and recycling technologies, reflecting global standards in energy efficiency and environmental management.
Officials noted that the project aligns with Ethiopia’s broader industrialisation strategy and is expected to contribute significantly to GDP growth, export earnings, and technological transfer. As cited by African Business, discussions are ongoing to secure additional financing and infrastructure support from local and international partners.
The deal is one of the largest industrial investments in Ethiopia in recent years, underscoring the country’s growing appeal as a destination for strategic mining and manufacturing projects. Government representatives reaffirmed their commitment to facilitating foreign partnerships to accelerate industrial development.
