NOVELIS TO SPEND $50 MILLION ON NEW SMELTING AND RECYCLING CENTER IN SOUTH KOREA

Novelis Inc, a world leader in aluminum rolling and recycling, has just 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 melting capacity of 100 kilotonnes of low-carbon sheet ingots. Once online, we expect the recycling center to reduce the company’s carbon emissions by more than 420,000 tons each year.

“The establishment of the Ulsan aluminum recycling center is an important investment that helps us achieve our ambition to become the world’s leading provider of sustainable, low-carbon aluminum solutions,” highlights Sachin Satpute, executive vice president and president of Novelis Asia. “By increasing the use of recycled content, we are committed to reducing our carbon footprint, as well as that of our customers and the industry as a whole, and accelerating aluminum’s transition to a fully circular economy,” he adds.

In addition, the multinational Novelis, which already operates Asia’s largest aluminum recycling center in Yeongju, South Korea, as well as the world’s 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 that it would build a new U.S. recycling center in Guthrie, Kentucky. Precisely, the use of recycled aluminum as an input material requires only 5 percent of the energy used to manufacture primary aluminum, thus avoiding 95 percent of the carbon emissions associated with production.

Work on the Ulsan recycling center is expected to begin in October and be completed in early 2024.