US-based aluminium rolling and recycling company Novelis has revealed plans to develop a facility in South Korea with an investment of around $50m.
The recycling and casting centre will be built at the company’s Ulsan Aluminium joint venture and be fully funded by Novelis.
The Ulsan Recycling Centre will have a maximum annual casting capacity of 100,000t of low-carbon sheet ingot.
The facility is expected to reduce the company’s carbon emissions by more than 420,000tpa.
Novelis senior vice-president, chief strategy and sustainability officer Pierre Labat said: “This latest capital investment in recycling is another example of our company purpose of ‘Shaping a Sustainable World Together’ in action.
“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.”
Construction of the site is scheduled to begin in October this year, with commissioning expected in early 2024.
The Ulsan Recycling Centre will complement Novelis’ existing aluminium recycling centre in Yeongju, South Korea, which is claimed to be the largest in Asia.
The company also owns an aluminium recycling centre in Nachterstedt, Germany.
Last month, Novelis announced plans to develop a recycling centre in Guthrie, Kentucky.
Novelis executive vice-president and Novelis Asia president Sachin Satpute said: “The establishment of the Ulsan Aluminum Recycling Centre is an important investment to help us achieve our ambition of becoming the world’s leading provider of sustainable, low-carbon aluminium solutions.
“By increasing the use of recycled content, we are committed to reducing our carbon footprint as well as that of our customers and the broader industry, and accelerating aluminium’s transition to a fully circular economy.”