Norwegian aluminum producer Nork Hydro ASA (Hydro) announced that it plans to invest approximately $156 million in a new facility at its aluminum smelter in Karmoy, Norway, to supply aluminum wire for power cables in Europe.

A wire story said that the new wire rod casthouse in Karmoy will have a capacity of 110,000 metric tons per year, Hydro said in a statement. “By expanding the capacity to deliver low-carbon aluminum from Norway to the EU, we help ensure that the infrastructure, the very backbone of the future energy system, supports both Europe’s security and climate policy goals,” Hydro CEO Eivind Kallevik said.

Per the company’s website, Hydro has operations in some 50 countries and accounts for 40% of the aluminum produced in Europe.