Novelis to invest $50 million to build recycling and casting center in South Korea
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Update time : 2022-02-25 18:04:53
Novelis Inc., a wholly-owned subsidiary of Hindalco Industries Limited and a leading company in the aluminum and copper industry, has announced to invest US$50 million to build an aluminum recycling and casting center in South Korea, in order to expand the production of low carbon aluminum.
This center will be built at Novelis’ Ulsan Aluminum joint venture and will be fully funded by Novelis.
The Ulsan Recycling Center will have an annual casting capacity of 100,000 tons of low carbon sheet ingots. The construction was expected to start in October this year and the production will commence in early 2024.
