Novelis to invest $365 m to build advanced recycling centre in North America

17 Jan 2022 CW Team

Hindalco Ltd's US affiliate, Novelis, will invest $365 million in the construction of a cutting-edge vehicle recycling facility in North America.

According to Steve Fisher, President and CEO of Novelis, Inc, the company's goal is to be the world's leading provider of low-carbon, sustainable aluminum solutions that progress business, industry, and society toward the benefits of a circular economy.

Novelis said in a statement on Wednesday that the new recycling facility will be erected next to the company's existing car finishing plant in Guthrie, Kentucky.

The facility is expected to cut the company's carbon emissions by more than one million tonnes per year, with a casting capability of 240 kt of sheet ingot each year.

According to the company's statement, it takes back the aluminum left over after automobile parts are stamped from sheets and remakes it into the same product for fresh car manufacture through closed-loop recycling.

The new recycling centre will have industry-leading processes and capabilities, such as advanced shredding and sorting equipment, as well as energy-saving innovations, to help the company meet its sustainability objective of reducing energy intensity by 10% by 2026.

Novelis Inc, headquartered in Atlanta, Georgia, is an American industrial aluminium business. It is a subsidiary of Hindalco Industries, an Indian aluminium and copper manufacturer. Novelis is a prominent rolled aluminium manufacturer as well as a global leader in beverage can recycling.

Image Source

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..