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Neuerth plans to build steel scrap recycling plant in Angola
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Saturday, 24 Nov 2012
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The Neuerth group plans to invest USD 150 million in Angola to build a factory to recycle steel scrap for sale on the Angolan market.

During a visit to the factory the group owns in Viana in Luanda, Mr Navien Shriram chairman of the group said that the group was deciding on the location of the new project, for which Neuerth may bring in an Angolan investor.

At the Viana unit the group recycles aluminium, plastics and battery acid, as well as oil for the automotive industry. The waste materials are collected in Lobito, Lubango, Huambo, Namibe and Malanje.

The recycled products, such as aluminium bars, are exported to countries such as India, China, South Korea, Vietnam, Algeria, Cameroon, Ethiopia, and Benin from the port of Luanda.

The unit's financial director, Mr Rajendra Karanth, said that the factory, which represented an investment of USD 20 million and started operating in April 2012, had capacity to produce 1,200 tonnes of aluminium bars per month.

The factory also recycles car batteries, for which the acid is neutralized to prevent pollution and plastic is re used to make pellets that is sold within Angola to the moulding industry.

Source - www.macauhub.com.mo

(www.steelguru.com)

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