Novelis Inc., Atlanta, has announced plans to invest about $50 million to build a recycling center at its Ulsan Aluminum joint venture in South Korea. The company says it expects the recycling center to reduce the company's carbon emissions by more than 420,000 tons each year.
According to a news release from Novelis, construction of the Ulsan Recycling Center is expected to begin in October, with commissioning expected in early 2024.
"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 aluminum solutions," says Sachin Satpute, executive vice president of Novelis. "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 aluminum's transition to a fully circular economy."
Novelis says it is making this investment in additional recycling capacity to meet the growing global demand for sustainable aluminum products. In January, the company announced it would build a new U.S. recycling center in Guthrie, Kentucky.