Hydro and the Government of Angola signed a Memorandum of Understanding on Tuesday to explore the feasibility of an integrated project for hydropower and aluminium production.
If realized, the project will represent a long-term opportunity for Hydro that could also provide a significant boost to social and economic development in Angola.
Hydro has been in dialogue with the Government of Angola over several years to mature the project idea.
Head of Strategy and Business Development Arvid Moss signed the MoU on behalf of Hydro at a ceremony in Angola's capital Luanda, while Minister of Energy Emanuela Vieira Lopes and Deputy Minister of Industry Kiala Gabriel signed on behalf of the Government of Angola.
The MoU marks the first step towards exploring this project opportunity, and the Government of Angola and Hydro are now entering an early fact-finding phase.