Hydro Entered Into Land Purchase Agreement for New Aluminum Recycling Plant

SEATTLE (Scrap Monster): Hydro signed contract to purchase land for the proposed new aluminum recycling plant in Spain. It reached an agreement with the Pulsar Properties Group subsidiary towards purchase of land in Torija, Spain.

The proposed facility is estimated to have a production capacity of around 120,000 tonnes per annum. The Torija recycling facility will produce Hydro CIRCAL and other recycled low-carbon aluminum with substantially lower carbon footprint. The facility will complement the product offerings from the nearby plant in Azuqueca, thus helping the company to launch wide range of value-added products into the Iberian market.

The total project investment is projected around EUR 130-140 million, which will result in creation of around 65 direct jobs in the region. A final investment decision is expected by the end of the current year. The facility will boost Hydro’s capability to produce low-carbon aluminum.

Hydro expects the demand for aluminum in its key markets to record a growth of around 3% per annum until end-2030. The demand for low-carbon aluminum is projected to outpace the rest of the market during this period. The investment will boost local consumption of scrap, thus limiting the volume of used aluminum scrap that leaves Europe every year.

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