Novelis to build $50 mn recycling and casting center at Ulsan Aluminum JV in South Korea

1 Mar 2022 , 01:33 AM

Novelis wholly owned subsidiary of Hindalco Industries announced that it will invest approximately $50 million to build a recycling center at its Ulsan Aluminum joint venture in South Korea Fully funded by Novelis the Ulsan Recycling Center will have an annual casting capacity of 100 kilotonnes of low-carbon sheet ingot Once online the company expects the recycling center to reduce the companys carbon emissions by more than 420000 tons each year Novelis which already operates Asias largest aluminum recycling center in Yeongju South Korea as well as the worlds largest aluminum recycling center in Nachterstedt Germany is making this investment in additional recycling capacity to meet the growing global demand for sustainable aluminum products In January the company also announced it would build a new US recycling center in Guthrie Kentucky Using recycled aluminum as input material requires only 5 percent of the energy used to make primary aluminum thus avoiding 95 percent of the carbon emissions associated with production Construction of the Ulsan Recycling Center is expected to begin in October with commissioning expected in early 2024