Novelis to Construct New Recycling and Casting Center in South Korea

SEATTLE (Scrap Monster): Novelis Inc.- the world leader in aluminum rolling and recycling announced that it will investment approximately $50 million towards constructing a recycling and casting facility at its Ulsan Aluminum joint venture in South Korea. The proposed investment will help Novelis to reduce its carbon emissions by more than 420,000 tons per year.

Pierre Labat, Senior Vice President, Chief Strategy and Sustainability Officer, Novelis Inc. stated that the  latest capital investment in recycling is another example of the company purpose of 'Shaping a Sustainable World Together' in action. The actions by the company will increase aluminum recycling worldwide and make aluminum the preferred material for all the markets it serves. Moreover, it will accelerate aluminum’s transition to a fully circular economy, he added.

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This investment in additional recycling capacity is being made to meet the growing global demand for sustainable aluminum products. The new recycling center in South Korea is in addition to the previously announced U.S. recycling center in Gutherie, Kentucky. The construction of the Ulsan Recycling Center is expected to start in October this year, with commissioning expected in early 2024.