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Novelis invests in South Korean recycling hub

Aluminium giant Novelis is to invest around US$ 50 million (EUR 44 million) in a new recycling centre at its Ulsan joint venture in South Korea.

Fully funded by Novelis, the Ulsan Recycling Center will have an annual casting capacity of 100 000 tonnes of low-carbon sheet ingot. Once online, Novelis expects the facility to reduce the company’s carbon emissions by more than 420 000 tonnes each year. Construction of the facility is scheduled to begin in October with commissioning expected in early 2024.

‘This latest capital investment in recycling is another example of our company purpose of “Shaping a Sustainable World Together” in action,’ says Pierre Labat, company senior vice president. ‘I am excited by the actions Novelis is taking to increase aluminium recycling worldwide and the benefits this will have for our customers and in making aluminium the preferred material for all the markets Novelis serves.’

Novelis, which already operates Asia’s largest aluminium recycling facility in Yeongju, South Korea, and the world’s largest at Nachterstedt, Germany, is investming in additional recycling capacity to meet the growing global demand for sustainable aluminium products. In January, it announced a new recycling plant for the US at Guthrie, Kentucky.

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