Novelis Inc. will invest approximately $50 million to build a recycling center at its Ulsan Aluminum joint venture in South Korea. Fully funded by Novelis, the Ulsan Recycling Center will have an annual casting capacity of 100 kilotonnes of low-carbon sheet ingot. Novelis expects the recycling center to reduce the company's carbon emissions by more than 420,000 tons each year. Construction of the Ulsan Recycling Center is scheduled to begin in October, and commissioning is expected in early 2024.
Novelis already operates Asia's largest aluminum recycling center in Yeongju, South Korea, and what it says is the world's largest aluminum recycling center in Nachterstedt, Germany. In January 2022, the company also announced it would build a new U.S. recycling center in Guthrie, Kentucky. Using recycled aluminum as input material requires only 5% of the energy used to make primary aluminum, thus avoiding 95% of the carbon emissions associated with production.