UAE aluminum maker to build U.S. smelter in Oklahoma

Emirates Global Aluminium is getting ready to build the first new smelter in the U.S. in almost 50 years.

The state-owned company has formed a 60-40 joint venture with Chicago-based Century Aluminum to build the plant in Inola, Oklahoma, which is expected to produce about 750,000 tons of the metal per year and more than double current U.S. capacity. Reuters reports.

EGA – jointly owned by Mubadala and the Investment Corp. of Dubai – has said previously it expects to invest $4 billion in the project.

U.S. President Donald Trump has sought to bolster domestic production of aluminum, which is on the U.S. list of critical minerals, by imposing a 50% tariff on imports.