Novelis to Build Aluminum Recycling Center in Ulsan... "Annual Production of 100,000 Tons"

"Construction Starts in October... Fully Operational by Early 2024"

Ulsan aluminum panorama. (Photo by Novelis)

[Asia Economy Reporter Moon Chaeseok] Novelis, an aluminum rolling and recycling company, announced on the 21st that it will build the Ulsan Aluminum Recycle Center with an annual capacity of 100,000 tons to supply low-carbon aluminum.

To this end, Novelis, a subsidiary of the multinational Aditya Birla Group headquartered in Mumbai, India, will invest $53 million (approximately 64 billion KRW) in Ulsan Aluminum, a joint venture established in 2017 with Kobe Steel of Japan. The center, which is scheduled to break ground in October and become fully operational in early 2024, will be capable of producing 100,000 tons of sheet ingots annually.

Aluminum is emerging as an eco-friendly packaging material and a substitute for steel due to its characteristic of being infinitely recyclable. Recycling aluminum can reduce energy use and greenhouse gas emissions by 95% each compared to producing aluminum from bauxite.

Novelis is already operating the Yeongju Aluminum Recycle Center, the largest in Asia. Novelis has established a closed-loop recycling system that transforms used aluminum cans into new aluminum cans within 60 days, and the Yeongju Aluminum Recycle Center recycles more than 18 billion aluminum beverage cans annually.

Novelis explained that the new recycle center is being built to meet the increasing demand for sustainable aluminum products. Sachin Sapute, President of Novelis Asia, said, "The establishment of the Ulsan center is an important milestone in achieving Novelis's goal of becoming the world's leading supplier of sustainable low-carbon aluminum solutions. We will strive to expand the use of recycled aluminum raw materials to reduce carbon emissions not only for Novelis but also for our customers and the entire aluminum industry, and to promote the transition to a circular economy."

This content was produced with the assistance of AI translation services.