China – Chiho Tiande Group is investing US$ 100 million in a new 500 000 tonne mixed-metal recycling facility at Yantai City in north-east China.
According to Chinese customs data, Chiho Tiande is the largest mixed-metal scrap recycler in China in terms of import volume, and operates its own foundry business as well as wholesaling.
The company said it had signed an agreement with Yantai Committee to develop and operate an integrated facility for recycling, processing and sale of imported mixed metal scrap. The committee will help Chiho Tiande obtain relevant governmental approvals for the establishment of a dedicated subsidiary to manage the project and for acquisition of an 18 ha site.
An additional 48 ha of land is being set aside for the company’s use in the Yantai Resource and Recycling Development Zone. This will allow Chiho Tiande to research the reuse of other renewable resources as well as recycling the metal scrap.