The Neuerth group plans to invest US$150 million in Angola to build a factory to recycle steel scrap for sale on the Angolan market, the chairman of the group, Navien Shriram, told the Sol newspaper.
During a visit to the factory the group owns in Viana, Luanda – to recycle aluminium and other elements – Shriram 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, Rajendra Karanth, said that the factory, which represented an investment of US$20 million and started operating in April 2012, had capacity to produce 1,200 tons of aluminium bars per month.
The factory also recycles car batteries, for which the acid is neutralised to prevent pollution and plastic is re-used to make pellets that is sold within Angola to the moulding industry. (macauhub)