Aluminum and renewable energy company Hydro is making an investment of almost €145mil in the construction of a new wire rod smelter at its aluminum plant in Karmøy, Norway. This new facility will be destined to supply aluminum for critical energy infrastructure in Europe and is expected to start production in 2028.
The wire rod smelter in Karmøy will have a capacity of 110,000 tons per year. The facility is scheduled for completion in the first quarter of 2028 and represents Hydro’s largest investment in Norway in the last decade.
The new plant will produce aluminum wire for electrical cables in Europe. The European Union has defined aluminum as a critical material. Norway is currently responsible for 40 % of aluminum production in Europe.
Although the volatile global outlook and reduced industrial activity have affected aluminum demand over the past year, Hydro has increased its sales of aluminum with a low carbon footprint in recent years. In the context of the energy transition, aluminum stands out for its light weight, durability and recyclability, which gives it a competitive advantage. An aluminum conductor with the same electrical conductivity as a copper conductor weighs about half as much.
The new smelter will contribute to greater flexibility in a volatile aluminum market, especially in the challenging automotive and building systems sectors. With this new facility, Hydro will be able to produce more aluminum wire for an expanding market.
The project is subject to a final construction decision, which will be made in the fourth quarter of 2025. The investment is part of Hydro’s annual investment plan, estimated at approximately NOK 15 billion.
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