Daiki Aluminium Industry India, a 100 per cent subsidiary of Daiki Aluminium Industry Co. Ltd., Japan, has broken ground on a new aluminium alloy recycling plant at Sri City in Andhra Pradesh (AP), India.
Daiki Aluminium Industry will make an investment of INR250 crore. The new aluminium alloy recycling plant will be built on a 20 acre plot in the Domestic Tariff Zone and is expected to be commissioned by February 2020. The plant will manufacture aluminium alloy ingots at an annual capacity of 84,000 tonne. The products will be exported to ASEAN and Japan for supply to automobile companies.
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Ravindra Sannareddy, Founder Managing Director, Sri City said "We are very pleased to welcome Daiki group, which is one of the world’s largest secondary aluminium production company. As Aluminium recycling is gaining importance as an economically valuable secondary raw material, we are delighted to have Daiki in Sri City, as it would effectively meet the increasing demand for secondary aluminium, and thereby help in saving mineral resources in the country.”
Takaaki Yamamoto, President of Daiki Aluminium Industry and Zhao Rong, Chairman, Delta Group of Industries, China, were present at the foundation stone laying ceremony.
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