China Hongqiao to start recycled aluminium production at year-end

Chiho Environmental

11/05/2021 14:19

May 11 (Reuters) - China Hongqiao Group  1378.HK  will put a
secondary, or recycled, aluminium production line into operation
in its home province of Shandong at the end of this year, the
world's top private-sector aluminium maker said in a statement
on Tuesday.
    The joint project with Germany's Scholz Recycling in an
industrial park in Zouping will be able to process 500,000
tonnes per year of aluminium scrap and reduce average annual
carbon emissions by 1.9 million tonnes when fully operational,
according to the statement on an official WeChat account.
    Like other aluminium producers in China, the world's biggest
consumer of the metal used in everything from cars to cans,
Hongqiao is seeking to use more scrap and tap cleaner power
sources for the energy-intensive smelting process to cut its
environmental footprint and lower emissions.  urn:newsml:reuters.com:*:nL1N2LI0C7
    The company has said it will publish its carbon goals later
this year.  urn:newsml:reuters.com:*:nL1N2LI0C7
    Scholz, a unit of China's Chiho Environmental Group
 0976.HK , holds 25% in the 1.5 billion yuan ($233.5 million)
joint venture, which was set up last year and is also building
facilities to dismantle and recycle vehicles that have reached
the end of their life.  urn:newsml:reuters.com:*:nFWN2GX0XB
    That part of the project, which will be put into operation
in June 2022, will be able to process 100,000 vehicles per year,
said the statement issued after a groundbreaking ceremony.

($1 = 6.4250 Chinese yuan renminbi)

 (Reporting by Tom Daly; editing by Emelia Sithole-Matarise)
 ((tom.daly@thomsonreuters.com; +86 10 5669 2119;))