Norsk Hydro's Slovak aluminum smelter set for partial restart
2026-07-02 11:05:10 [Print]
Norwegian industrial giant Norsk Hydro announced on Wednesday that its Slovalco aluminum joint venture has struck a deal with the Slovak government to resume partial production following a four-year hiatus, which includes a new long-term power purchase agreement.
The agreement paves the way for bringing 75,000 metric tons of annual smelting capacity back online, with output expected to recommence in the fourth quarter of 2026, according to Hydro.
The company added that restoring the remaining 100,000 tons of capacity would hinge on conditions beyond 2030 and the securing of additional power contracts.
The revival of primary aluminum production at the plant, located in Ziar nad Hronom in central Slovakia, is expected to provide a much-needed lift to the European market. The region has faced metal supply shortages exacerbated by the closure of the Mozal smelter in Mozambique, the EU's new carbon border levy, and war-related supply disruptions in the Gulf region.
Slovalco-owned 55.3% by Norway's Hydro and 44.7% by Penta Investments Group, which focuses on Central Europe-was forced to halt primary aluminum production in September 2022, as surging electricity prices pushed the joint venture into sustained financial losses.
The agreement paves the way for bringing 75,000 metric tons of annual smelting capacity back online, with output expected to recommence in the fourth quarter of 2026, according to Hydro.
The company added that restoring the remaining 100,000 tons of capacity would hinge on conditions beyond 2030 and the securing of additional power contracts.
The revival of primary aluminum production at the plant, located in Ziar nad Hronom in central Slovakia, is expected to provide a much-needed lift to the European market. The region has faced metal supply shortages exacerbated by the closure of the Mozal smelter in Mozambique, the EU's new carbon border levy, and war-related supply disruptions in the Gulf region.
Slovalco-owned 55.3% by Norway's Hydro and 44.7% by Penta Investments Group, which focuses on Central Europe-was forced to halt primary aluminum production in September 2022, as surging electricity prices pushed the joint venture into sustained financial losses.
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Unit:RMB/mt
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