Egyptalum is seeking a $100 million (EGP 5 billion) loan to build the country’s first aluminum foil manufacturing plant. The National Bank of Egypt is arranging the financing with a consortium of Egyptian and Gulf lenders. Parties expect to finalize the agreement in the fourth quarter of 2026.
The facility aims to offset the $140 million Egypt currently spends on annual foil imports. The first phase requires a $90 million investment to establish an annual production capacity of 25,000 tonnes. Future expansions are projected to increase the total project investment to $135 million.
This initiative follows a separate partnership with Trafigura to expand the Nag Hammadi Aluminum Complex. That larger expansion involves investments ranging from $750 million to $900 million.