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

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