Hulamin to invest ZAR 300 million for new aluminium recycling plant

Hulamin, a South Africa based aluminium products manufacturer has recently announced its plans to build an aluminium recycling plant that would use beverage cans as raw materials and ready to invest ZAR 300 million (US$ 25.4 million) for the same.

The Pietermaritzburg-based company has disclosed that a majority of the fund to establish the new plant will come from a five-year loan from Nedbank worth ZAR 270 million (US$ 22.3 million). Using the plant, they will be able to churn out aluminium through their gas-fired furnaces while consuming only a fraction of the electricity required to smelt new metal, the company explained.

Hulamin claims that despite the fierce competition in the global market, there is a healthy demand for beneficiated aluminium products and the niche in which the company specializes, the prices remain quite stable.

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