What is the current ownership structure of Sohar Aluminium, and which stakeholders are reportedly involved in EGA's potential acquisition talks?

Sohar Aluminium is currently owned by Oman's state-run energy firm OQ (40%), Abu Dhabi National Energy Co (TAQA) (40%), and Rio Tinto (20%). According to six sources, EGA is in advanced talks to acquire a stake in the smelter, with differing accounts on which stakes are under discussion: three sources said EGA would take over TAQA’s 40% stake; one said it was seeking Rio Tinto’s 20% stake; and two said it was pursuing both the TAQA and Rio Tinto stakes. The sources emphasized that the Omani government would not allow Emirati majority control, making it likely that OQ’s stake would increase as part of any deal to preserve Omani majority ownership.

Why is EGA pursuing an investment in Sohar Aluminium, and how does this align with its broader strategic goals amid recent operational disruptions?

EGA is pursuing a stake in Sohar Aluminium as part of its strategy to expand its footprint outside the UAE, especially after being forced to shut down around 60% of its ~2.5 million metric ton-per-year smelting capacity in the UAE following an Iranian attack in late March. The conflict also closed its usual shipping route via the Strait of Hormuz, prompting EGA to begin using Sohar port on the Gulf of Oman. Although the talks predate the conflict, the disruption has heightened the strategic value of Sohar’s infrastructure and location. EGA — jointly owned by Mubadala Investment Co and Investment Corporation of Dubai — aims to build a larger presence closer to its core customers, as evidenced by its recent move to acquire 80% of Italian recycler Eco Green and plans to co-develop the first primary aluminium smelter in the US in nearly 50 years with Century Aluminum.

EGA in Advanced Talks to Take Stake in Sohar Aluminium, Sources Say

May 14, 2026

Emirates Global Aluminium is in advanced talks to acquire stakes in Oman's Sohar Aluminium to expand its overseas footprint amid regional shipping disruptions. The deal involves potential share transfers from TAQA or Rio Tinto, pending Omani government approval on majority control.

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