Novelis Highlights Pipeline of Capital Expansion Projects

SEATTLE (Scrap Monster): Novelis, Inc.- the global leader in aluminum rolling and recycling provided details of several capital expansion projects undertaken by the company over the past few years, aimed at boosting its capabilities and helping it achieve the previously stated sustainability goals.

ALSO READ: Novelis Achieved ASI Certifications for Multiple Facilities

The press release issued to announce the third quarter fiscal 2022 results stated that the company has announced a series of capital expansion projects since October 2021. Earlier, the company had announced strategic growth capital projects worth approximately $500 million, comprising of a $375 million investment towards expansion of its rolling and recycling capabilities in Zhenjiang, China and $130 million investment at its Oswego, New York, plant towards the facility’s hot mill capacity.

In addition, the company had recently unveiled plans build a $365 million, highly advanced recycling center for the U.S. automotive market. The facility is expected to have annual casting capacity of 240 kilotonnes of sheet ingot and reduce the company's overall carbon emissions by more than one million tons every year.

All the above projects are expected to commence during the current year and are scheduled for commissioning in 2024.