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GS E&C to Invest in Li-Ion Battery Recycling Plant in Pohang

Metal News - Published on Tue, 14 Jan 2020

Image Source: simsrecycling.com
GS E&C signed the investment agreement with Pohang City and North Gyeongsang Province. Under the agreement, the company will spend 100 billion won on setting up Li-ion battery recycling facilities in the Pohang regulation-free zone. Through the initial investment, the plant will aim to stock and reproduce used Li-ion batteries from electric vehicles and others into 4,500 tonnes of re-sellable metals like nickel, cobalt, lithium, and manganese annually. It will make additional investment to ramp up the reproduction capacity to 10,000 tonnes.

The North Gyeongsang provincial government aims to generate annual revenue of 800 billion won from recycling secondary battery wastes and secure 5.7 percent share of the global market as demand for Li-ion battery recycling will soar in line with increased use of electric-powered vehicles and automation.

Source :

Posted By : Rabi Wangkhem on Tue, 14 Jan 2020
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