Novelis to Boost its Chinese Recycling Capabilities

The groundbreaking of the project is scheduled to be held in mid-2021.

SEATTLE (Scrap Monster): Novelis Inc. announced investment of approximately $300 million at its Zhenjiang plant in China. The company signed a memorandum of understanding (MOU) on February 4th with the Zhenjiang Jingkou Industrial Zone, in Zhenjiang City, Jiangsu Province to make the investment, aimed at expanding its automotive aluminum capabilities and recycling operations.

The groundbreaking of the project is scheduled to be held in mid-2021. As part of the investment, Novelis Inc. will expand its hot mill, add a cold mill, and establish an automotive closed-loop recycling system.

ALSO READ:

Novelis' Net Income Surged 82% in Q3 Fiscal 2021

Novelis' Innovation Capabilities Win Top Industry Accolades

The successful completion of the project will ensure delivery of a fully integrated supply chain for its automotive customers and reinforce the company’s leadership position in China. This will help the company to more efficiently deliver innovative, lightweight aluminum solutions to meet increased customer demand.

James Liu, Managing director of Novelis China stated that the company is pleased to sign an MOU with the Zhenjiang Jingkou Industrial Zone. With the support from the Chinese government, the company will be able to respond faster to the market and help customers in developing the next generation of innovative, mobility solutions, Liu added.

The investment is expected to greatly reduce carbon dioxide emissions, thereby helping the country meet its carbon neutral targets.

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index