Windalco's parent company Rusal says discussions over the Russian company investing in a new US plant predated the imposition of American sanctions.
In April last year, the US imposed sanctions on billionaire Oleg Deripaska and his businesses, including Rusal, causing turmoil in the global aluminium market.
The Treasury lifted restrictions on Rusal in late January after Mr. Deripaska agreed to reduce his ownership and relinquish control of the firm.
Several months later, Rusal said it planned to invest as much as 200 million US dollars in a Kentucky plant being built by closely held Braidy Industries.
While Mr. Deripaska remains under sanctions, some US lawmakers have also called for a review of Rusal's investment in the project.