OSLO, May 26 -- Aluminium producer Norsk Hydro (NHY.OL: Quote) will build Norway's largest plant for aluminium recycling at Karmoy with an initial capacity of 35,000 tonnes, Hydro said on Wednesday.
The total investment will be around 260 million Norwegian crowns ($39.52 million) and will establish close to 40 new jobs in the plant, it said in a statement.
"The planned new plant at Karmoy will recycle dross and scrap from all of Hydro's aluminium plants in Norway, as well as from external sources in Scandinavia and Iceland," Hydro said.
The new recycling facility is planned to be operative from the summer of 2012. Stage two, planned to start when the first furnace is running at full capacity, will include a second furnace with a capacity of further 35,000 tonnes.