Novelis to invest $50 million towards establishing a recycling center at Ulsan Aluminum joint venture in South Korea

On 21^st February 2022, the world leader in aluminium rolling and recycling, Novelis Inc. publicized that it will invest approximately $50 million towards establishing a recycling center at its Ulsan Aluminum joint venture in South Korea.

The project is fully financially backed up by Novelis, the Ulsan Recycling Center will have an annual casting capacity of 100 kilotonnes of low-carbon sheet ingot. Once functionalized, it is anticipated that the recycling center will lessen the company's carbon emissions by more than 420,000 tonnes each year.

Pierre Labat, the Senior Vice President, Chief Strategy and Sustainability Officer at Novelis Inc. said, “This latest capital investment in recycling is another example of our company purpose of 'Shaping a Sustainable World Together' in action.”

"I am excited by the actions Novelis is taking to increase aluminium recycling worldwide and the benefits this will have for our customers and in making aluminium the preferred material for all the markets Novelis serves."

Novelis Inc., an American industrial aluminium company, headquartered in Atlanta, Georgia, United States and is also a subsidiary of Indian aluminium and copper manufacturing company Hindalco Industries already operates Asia's largest aluminium recycling center in Yeongju, South Korea, as well as the world's largest aluminium recycling center in Nachterstedt, Germany, is making this investment in additional recycling capacity to meet the growing global demand for sustainable aluminium products.

However, in January, the company also announced it would build a new U.S. recycling center in Guthrie, Kentucky. Using recycled aluminium as input material requires only 5% of the energy used to make primary aluminium, thus avoiding 95% t of the carbon emissions associated with production.

The construction of the Ulsan Recycling Center is estimated to commence in October, with commissioning expected in early 2024.

Sachin Satpute, the Executive Vice President, Novelis, and President, Novelis Asia said, “The establishment of the Ulsan Aluminum Recycling Center is an important investment to help us achieve our ambition of becoming the world's leading provider of sustainable, low-carbon aluminium solutions."

"By increasing the use of recycled content, we are committed to reducing our carbon footprint as well as that of our customers and the broader industry, and accelerating aluminium's transition to a fully circular economy."