Novelis will invest around $32 million for extending the capacity of its aluminum recycling and rolling facility in Brazil.
This is an additional investment along with the current extension of a $300 million worth rolling mill at the plant. The company invested an additional $30 million over the previous two years for the recycling capacity extension and in order to form a network for the country’s recycled can collection centers.
Novelis’ CEO and President, Phil Martens, stated that this investment of over $360 million is a response to two key strategic initiatives of the company, which includes the expansion of its production capacity in the growing markets globally and reduction in carbon discharge by increasing the recycling process.
He added that the company had an objective of increasing the recycled products from the present 33% to 80% by 2020.
This capacity extension will have modern recycling lines, which will double the capacity of the plant to recycle the aluminum scrap and used beverage cans from 200,000 Mt to 390,000 Mt annually. The anticipated new line will guarantee the supply of metal for the rolling mills and provides ecological advantages and decreases the cost of operation. Recycling of aluminum has utilized energy of only 5% and greenhouse gas releases essential for primary aluminum production.
Source: http://www.novelis.com/