OKLAHOMA CITY (AP) — Officials in Oklahoma revealed on Friday that they have reached an agreement with a private firm based in the United Arab Emirates to construct a new aluminum manufacturing plant valued at $4 billion in northeast Oklahoma.
Governor Kevin Stitt along with representatives from the Oklahoma Department of Commerce indicated that this partnership with Emirates Global Aluminum marks the establishment of the first new aluminum smelting plant in the United States in the last 45 years.
According to a memorandum of understanding signed by Governor Stitt and the CEO of the company, the facility is expected to reach an annual production capacity of approximately 600,000 tons (544,000 metric tons) of primary aluminum.
Commerce officials stated that the initiative will generate roughly 1,000 direct employment opportunities and around 1,800 jobs indirectly. The plant is set to be built on over 350 acres (140 hectares) located at the Port of Inola, situated east of Tulsa. However, the finalization of this agreement depends on the approval of a financial incentive package by the Oklahoma Legislature, which includes $275 million from the state along with exemptions from property, sales, and inventory taxes.