Alcoa Corporation (NYSE: AA) announced a $65 million investment to expand foundry production capabilities at its Mosjøen smelter in Norway, according to a company statement.

The investment will increase production capacity by up to 75,000 metric tons and enable the facility to incorporate post-consumer recycled aluminum into its products. The upgrade includes a new open mold foundry casting line, melting furnaces and additional casthouse improvements.

Since 2020, Alcoa has invested approximately $180 million in capital projects at the Norwegian smelter. The latest investment targets automotive and packaging sector customers seeking recycled content in aluminum products.

"This investment places Alcoa at the forefront of delivering low-carbon aluminum while creating long-term value for our customers and shareholders," said William F. Oplinger, Alcoa's president and CEO.

The Mosjøen facility employs more than 700 people and serves as one of the largest industrial employers in Northern Norway. The upgrade will enable a broader foundry alloy portfolio with greater flexibility in ingot size and format.

The project is expected to be completed in phases, with commissioning and ramp-up scheduled throughout 2028. The facility benefits from competitive long-term power arrangements that support continued investment at the site.

Alcoa produces bauxite, alumina and aluminum products globally. The Mosjøen smelter serves as part of the European aluminum value chain, delivering materials to the EU market.