New Mexico Governor Michelle Lujan Grisham announced that a capital investment group committed to creating over 950 jobs and investing more than $2 billion in the construction of an aluminum-can sheet rolling mill and recycling center in Valencia County, N.M. Manna Capital Partners, a private investment firm, will lead the project and operate the mill. Ball Corp., a provider of recyclable beverage packaging, will enter into a long-term supply agreement and intends to take a minority equity position in the mill. The group signed a letter of intent to purchase a 1,300-acre parcel in Los Lunas. Construction is scheduled to begin by late 2023, and manufacturing in anticipated to start in 2026. The facility will have the capacity to manufacture up to 1.3 billion pounds of aluminum annually.

“Further increasing recycled content in our products is key to boosting our sustainability and securing domestic supply of our key raw material,” said Dan Fisher, president and CEO of Ball Corp. “This alliance complements the significant manufacturing investments Ball has made across the Southwest U.S. since 2020 to meet growing demand for sustainable beverage packaging.”

Global aluminum can demand is expected to increase significantly by 2030, with North America estimated to account for a sizeable part of the growth. Since 2016, industry demand for beverage cans in North America has grown 24% from 107 billion units to approximately 133 billion units in 2021.