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19 JUNE 2026 AL CIRCLE

Egyptalum pursues a USD 100 million dollar denominated loan for its first aluminium foil plant

EDITED BY : STAFF EDITOR 2MINS READ

Egyptalum

Stock image for referential purposes only

Egypt Aluminium Company (Egyptalum) is said to be looking for a USD 100 million loan to help fund the development of Egypt's first aluminium foil plant, which is deemed to play an important part in Egypt's strategy to strengthen its downstream aluminium industry, thereby decreasing the need for imports.

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According to a report by a renowned news media, the financing will be arranged through a consortium of Egyptian and Gulf-based banks. The National Bank of Egypt is leading the process and managing the dollar-denominated loan, with the final financing agreement expected to be signed during the fourth quarter of 2026. The report cited unnamed sources familiar with the matter.

The initial step of the project will require about USD 90 million in investment and will produce 25,000 tonnes of aluminium foil each year. Future phases would lead to a cumulative investment in this venture of approximately USD 135 million, although no details are available on the total production rate at completion.

Egyptalum had previously earmarked EGP 1.4 billion (USD 28 million) within its investment budget for the 2025–2026 fiscal year to support the initial phase of the development.

The project comes as Egypt seeks to reduce its dependence on imported aluminium foil. The country currently spends nearly USD 140 million each year on foil imports, according to Kamel El-Wazir, former Minister of Industry and Deputy Prime Minister for Industrial Development.

The planned foil facility complements Egyptalum’s broader expansion strategy.  In May 2026, the company entered into a strategic partnership with Trafigura to expand its Nag Hammadi Aluminium Complex through investments estimated at USD 750 million to USD 900 million.

Egyptalum is North Africa’s largest primary aluminium producer, with an annual production capacity of 320,000 tonnes. Approximately 60 per cent of its exports are shipped to European Union markets.

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Last updated on : 19 JUNE 2026

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EDITED BY : STAFF EDITOR 2MINS READ

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