Recycled aluminum project completes local industrial chain

The first production line of the recycled aluminum project invested in by Guizhou Guilv New Materials Co began operating on March 28 in Qingzhen city, Guiyang, Southwest China's Guizhou province, with a ceremony held on the same day.

As an important project for Qingzhen to further extend its aluminum processing industrial chain, the project, with an investment of 460 million yuan ($66.7 million), began construction at the end of 2021 in the Wangzhuang Aluminum Refined and Deep Processing Industrial Park.

After it is totally put into use, the project is estimated to generate nearly 2.7 billion yuan in annual sales, as well as over 30 million yuan in tax revenue, while providing jobs for about 240 locals.

All three of the project's production lines are expected to be put into operation within the first half of this year.

"Businesses are encouraged by the nation to recycle aluminum as part of the 'recycled economy' to strengthen the sustainability of the aluminum industry. The company will fully, precisely and completely carry out this new development concept," said Zhu Yucai, president of Guizhou Guilv New Materials Co.

The company has put forward that by 2025, it will achieve leapfrog growth in its sales revenue and profits, and that it will become a leading enterprise in its sector with yearly sales exceeding 6 billion yuan.