Korean firm GS E&C has announced plans to build a 120,000m2 lithium-ion battery recycling facility with the goal of recovering 10,000 tonnes of materials per year.
The engineering, procurement and construction company will initially invest around KRW100 billion ($86 million) toward the plant in the next two years, the company confirmed on 9 January.
It aims to initially recover 4,500 tons of nickel, cobalt, lithium, and manganese annually from used batteries. This will rise to the final capacity following a second investment.
The secondary battery recycling plant and related projects will be built in the province of North Gyeongsang.
