OPIC Board Approves $75 Million for Aluminum Recycling Project in Turkey
April 1, 2010
WASHINGTON, D.C. – The Board of Directors of the Overseas Private Investment Corporation (OPIC) approved $75 million for the construction of an aluminum recycling facility in Turkey that will use state-of-the-art, environmentally-friendly U.S. technology to process up to 41,000 tons of secondary aluminum annually.
The OPIC loan will enable ST Hurda Metal Ogutme Teknolojileri Sanayi ve Ticaret AS to construct and operate an aluminum recycling and gasification facility in Tekirdag, near Istanbul, which will convert aluminum metal products into secondary-market aluminum. The project will also build an associated 5.3-megawatt heat capture energy generation unit for the provision of excess power to the local electricity grid.
The facility will use both used beverage cans and clean aluminum scrap as inputs for its recycling operation. The aluminum recovered by the facility will be sold under contractual arrangements to primary and secondary manufacturers in Turkey, or on the local spot market at international commodity prices.
The U.S. sponsor of the project is Chinook Sciences International, LLC, part of Chinook Sciences Group, a New Jersey-based scientific research engineering company and a worldwide leader in gasification technology.
The facility will employ state-of-the-art RODECS® equipment, which is able to gasify all organic material from scrap metal, thereby transforming low quality contaminated metal scrap into clean, high-value metal in an environmentally-friendly process. The RODECS® gasifies, rather than burns, the materials so that the scrap metal is cleaned with minimal yield loss. In so doing, it is able to rid the aluminum of oil, paint, plastic, polyethylene, paper, and water. Since these waste materials are evaporated, harmful emissions are eliminated from the process. The RODECS® equipment can also process any form of organic waste and produce energy in the form of electricity or synthetic fuel with emission levels that are well within U.S. and European regulatory standards.
Among its benefits, the project will generate new employment, technology transfer, energy savings, conservation of natural resources, and revenue for recyclers, charities and local governments.
“This project demonstrates that clean technology applies not only to energy production but to industrial processes such as recycling, by using innovative means to both reduce emissions and save customers valuable time and expense,” said OPIC Acting President Dr. Lawrence Spinelli. “OPIC is pleased to support a project that supports the development of the Turkish economy and the utilization of state-of-the-art U.S. clean technology.”
The facility will be adjacent to a sister company, DT Metal Geri Kazanım Teknolojileri Sanayi ve Ticaret Anonim Şirketi, which used a $30 million OPIC loan to construct a similar aluminum recycling facility.