Century takes 40% stake in EGA’s US aluminium smelter

Century Aluminum will take a 40% stake in Emirates Global Aluminium's project to build the first primary aluminium smelter in the United States in almost 50 years, the companies said on Monday.

EGA, which will retain 60% in the joint venture, announced plans to build the smelter in Inola, Oklahoma, in May 2025. Its planned capacity has now been increased to 750,000 metric tons of aluminium per year, up from 600,000 tons per year previously, which would more than double U.S. production of the metal.

"Key industries, such as automotive, aerospace, construction, packaging and importantly, national defense, stand to benefit greatly from this expanded production of this critical metal," Jesse Gary, CEO of Chicago-based Century, said in a statement.

Construction of the project is expected to start by the end of this year, with production seen starting by the end of the decade, the companies said, adding that the project was set to create 1,000 permanent jobs at the site and support 4,000 construction jobs.