Hydro investing $156m in new wire rod casthouse in Norway for sustainable aluminium production

From Yahoo Finance: 2025-03-24 08:28:00

Hydro is investing $156m to build a wire rod casthouse in Norway, producing aluminium wire for power cables. The facility will have a capacity of 110,000 tonnes per annum and is set to begin production in 2028. This investment aligns with Hydro’s focus on low-carbon solutions for critical infrastructure.

Aluminium is a critical material in the EU’s energy transition, with Norway being a major producer. Despite a recent dip in global demand, Hydro has seen an increase in sales of low-carbon aluminium. The company’s investment in the new casthouse aims to meet the growing market demand for sustainable materials.

Hydro’s president and CEO, Eivind Kallevik, highlighted the importance of using renewable materials for future energy transport. The new facility will enhance Hydro’s product flexibility, benefiting industries like automotive and building systems. This investment is part of Hydro’s annual plans to invest in sustainable solutions.

Collaborating with Rio Tinto, Hydro is exploring carbon capture technologies in the aluminium electrolysis process. This initiative aligns with Hydro’s commitment to sustainability and reducing carbon emissions in its operations. The new wire rod casthouse in Norway reflects Hydro’s dedication to meeting the demands of a changing market and supporting critical infrastructure.

Read more: Hydro to build new $156m wire rod casthouse in Norway