Hydro Invests NOK 1.65 billion Towards Aluminium for Europe’s Electric Infrastructure

Hydro is investing NOK 1.65 billion towards building a new wire rod casthouse at its aluminium smelter in Karmøy, Norway.
The new facility will supply aluminium for use in critical energy infrastructure in Europe and is expected to start production in 2028.

“This investment will expand the capacity of wire rod to supply our customers with low-carbon solutions needed to develop and expand Europe’s most critical infrastructure. This demonstrates that a productive aluminium industry has good growth opportunities in Norway,” says Eivind Kallevik, President and CEO of Hydro.

The wire rod casthouse in Karmøy will have a capacity of 110,000 tonnes per year.

Completion of the casthouse is scheduled for the first quarter of 2028 and is Hydro’s largest investment in Norway in ten years.

“Europe’s energy transition is about one thing, more renewable power production, and the power produced must be transported over long distances. Aluminium is crucial for transporting electricity to where it is needed. By expanding the capacity to deliver low-carbon aluminium from Norway to the EU, we help ensure that the infrastructure, the very backbone of the future energy system, supports both Europe’s security and climate policy goals,” says Kallevik.

The project is pending final build decision which will be made in the fourth quarter of 2025. The investment is included in Hydro’s annual investment plans of approximately NOK 15 billion.

Source: www.aluminiumtoday.com