Century Aluminium announced this week that its subsidiary Norðurál Grundartangi broke ground on a new US$120 million low-carbon aluminium billet casthouse in Iceland.
Per the firm, the new casthouse will have a nameplate capacity of 150 thousand metric tons per annum when it comes online in early 2024. The new aluminium casthouse will also raise Grundartangi’s overall production capacity from 60 thousand metric tons per annum to 120 thousand metric tons per annum. In addition to increasing capacity, the new construction will provide another 90 jobs to the local economy.
President and Chief Executive Officer Jesse Gary said in a press release that the new addition will radically shift the plant’s product offerings upon completion.
“We are very excited to bring billet production to Grundartangi and, beginning in 2024, to bring low-carbon Natur-Al™ billet to the European market. Once complete, the new casthouse will enable Grundartangi to produce over 80% of its production as value-added products, further strengthening this world-class asset. In addition, by utilizing renewable electricity to further process our aluminum into billets in Iceland, we are not only creating a more valuable product, but we are also strengthening the Natur-Al™ brand and lowering the carbon footprint of aluminum production throughout Europe. We are proud to announce that the project will be fully financed with Icelandic green financing from Arion Bank and powered with green energy from our partners at Landsvirkjun.”
The story was updated on November 9th