The Egyptian Company for Metal Construction (Metalco) is negotiating with a potential partner for its plan to build an aluminum smelter with an estimated investment of US$2.7 billion.

The planned smelter will have a nameplate capacity of 600,000 tons per year. This smelter is to meet the demand from the local and foreign markets.

Metalco is considering two possible sites for the project, including the Northern Port Said and the Eastern Red Sea, known as the Golden Triangle.