Construction of Ulsan Aluminum Recycle Center ... Operation in 2024, Annual Production of 100,000 Tons

Ulsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] A recycle center that produces aluminum by recycling used aluminum will be established in Ulsan.

Ulsan City announced that Ulsan Aluminum will hold a groundbreaking ceremony for the 'Ulsan Aluminum Recycle Center' at 3 p.m. on the 7th at the site on Budu-ro, Nam-gu.

The ceremony will be attended by key guests including Ulsan Mayor Kim Doo-gyeom, Nolan Barkhouse, U.S. Consul General in Busan, Lee Yoon-chul, Chairman of Ulsan Chamber of Commerce and Industry, Lee Jung-hoon, Chairman of Nam-gu Council, as well as Jeremy Michael Quick, CEO of Ulsan Aluminum, Sachin Satpute, CEO of Novelis Korea, and about 150 company executives and related personnel.

The Ulsan Aluminum Recycle Center will be built by Novelis, based in Atlanta, USA, with a total investment of 53 million dollars (about 70 billion KRW) on a 11,500㎡ site within Mipo National Industrial Complex, with a building area of 7,830㎡, scheduled to be completed by the end of 2024.

This center will produce 100,000 tons of aluminum products annually, and all products will be supplied to domestic and international markets through the Novelis supply chain.

By recycling aluminum at this center, it is expected to reduce carbon emissions by more than 420,000 tons annually by decreasing natural resource mining and energy consumption.

Jeremy Michael Quick said, "As demand for low-carbon aluminum is increasing in the global market, the establishment of the recycle center is a strategic investment to establish a sustainable aluminum supply system and to meet the era's demand for a low-carbon circular economy."

Ulsan Mayor Kim Doo-gyeom said, "We expect it will bring new vitality to the local economy, which has been stagnant due to global economic instability," and added, "We will actively support Ulsan Aluminum to achieve carbon neutrality goals and become a competitive company."

Novelis is a global company producing aluminum rolled products with business sites in North America, Europe, Asia, and South America.

In Korea, Novelis Korea operates the 'Yeongju Aluminum Recycle Center' in Jeokseo Industrial Complex, Yeongju, Gyeongbuk, with an annual capacity of 340,000 tons.

Ulsan Aluminum is a joint venture between Novelis and Kobe Steel, one of the top three steel companies in Japan and a supplier of aluminum and copper products.

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