This invention relates to a series of castable aluminum alloys with excellent creep and aging resistance, high electrical conductivity and thermal conductivity at elevated temperatures. The cast article comprises 0.4 to 2% by weight iron, 0 to 4% by weight nickel, 0.1 to 0.6 or about 0.1 to 0.8% by weight zirconium, optional 0.1 to 0.6% by weight vanadium, optional 0.1 to 2% by weight titanium, at least one inoculant such as 0.07-0.15% by weight tin, or 0.07-0.15% by weight indium, or 0.07-0.15% by weight antimony, or 0.02-0.2% by weight silicon, and aluminum as the remainder. The aluminum alloys contain a simultaneous dispersion of Al6Fe, Al3X (X=Fe, Ni) and/or Al9FeNi intermetallic in the eutectic regions and a dispersion of nano-precipitates of Al3ZrxVyTi1-x-y (0≤x≤1, 0≤y≤1 and 0≤x+y≤1) having L12 crystal structure in the aluminum matrix in between the eutectic regions. The processing condition for producing cast article of the present invention is disclosed in detail.