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| Novelis Asia President Sachin Satpute, seventh from left, shovels with other participants in the groundbreaking ceremony for a new aluminum recycling center in Ulsan, Monday. Courtesy of Novelis |
By Park Jae-hyuk
Novelis, the world's leading company in aluminum rolling and recycling, broke ground on a $53 million aluminum recycling center in Ulsan, Monday, with the aim of reducing its carbon emissions by more than 420,000 tons annually through the new facility to produce 100,000 tons of low-carbon sheet ingot annually.
"As the world leader in sustainable, low-carbon rolled aluminum solutions, we are focused on accelerating the transition of the aluminum industry to a circular economy model through the increased use of recycled content in our products," Novelis Asia President Sachin Satpute said. "Doing so will reduce our carbon footprint ― as well as that of our customers and industry as a whole ― and lead us closer to realizing our 2050 goal for carbon neutrality."
The groundbreaking ceremony was also attended by Ulsan Mayor Kim Doo-gyum, Ulsan Chamber of Commerce & Industry Chairman Lee Yoon-chul and Nolan Barkhouse, a principal officer of the U.S. consulate in Busan.
The recycling center is being built by Ulsan Aluminum, a joint venture between Novelis and Japan's Kobe Steel. It is expected to start operation in 2024.
