Norwegian aluminum producer Norsk Hydro has signed an agreement with a subsidiary of the Pulsar Properties Group to purchase land in Torija, Spain, for the construction of an aluminum recycling plant with an annual capacity of 120,000 tons and about 65 direct employees.

The investment of this project was estimated to be between EUR 130-140 million, depending on the final facility design, market conditions, and macroeconomic development. The final decision for this investment was aimed to be made by the end of 2023.

With this new plant, Hydro’s capability to produce low-carbon aluminum will be improved further and more scrap will be kept in Europe.