MANNA CAPITAL PARTNERS TO INVEST $2 BILLION FOR A NEW CAN PLANT IN NEW MEXICO

Manna Capital Partners has announced that it will invest $2 billion to build an aluminum can rolling mill and recycling center in Valencia County, New Mexico.

This is an ambitious project that will create 950 jobs. Precisely, the group signed a letter of intent to acquire 300,000 acres in Los Lunas, with construction to begin by the end of 2023 and manufacturing in 2026.

Ball Corporation, a leading global supplier of recyclable beverage containers, will sign a long-term supply agreement and also intends to take a minority equity position. The facility will be powered by 100 percent renewable energy and would have the capacity to manufacture up to 1.3 billion pounds of aluminum per year, with plans to ensure 85% recycled content when the factory is fully operational.

Manna Capital Partners is a private investment firm whose founding partners Ulysses L. ‘Junior’ Bridgeman and Kevin R. Attkisson will lead the project, build and operate the factory. Manna said it chose New Mexico in part because of its competitive business climate, its proximity to a transportation network that includes rail service, the growth of can manufacturing facilities in the southwestern United States and the state’s commitment to sustainable energy.

The State of New Mexico pledged $5 million from its Local Economic Development Act (LEDA) job creation fund to support the project, with assistance paid as the manufacturer reaches economic development benchmarks, to be determined in a Project Participation Agreement. The project is expected to have an economic impact of $3.4 billion over 10 years, which will also mean that global demand for aluminum cans will experience strong growth over the next decade, from wine to mineral water to energy drinks. The plant plans to be one of the greenest, most efficient and highest quality suppliers of this product in the United States.