ITOCHU and two of its wholly owned subsidiaries, ITOCHU (China) Holding and ITOCHU Metals have established Dalian New Green Recycle & Resources, an integrated recycling company that will handle recycling of steel, non-ferrous scrap, consumer electronic and home appliances and plastics.
The operation of steel and non-ferrous scrap under this recycling project, which will be located at Dalian Changxing Island Harbor Industrial Zone in China, will be put under the charge of Suzuki Shokai, a Japanese recycling company.
Dalian New Green representing a capital investment of JPY2bn and licensed by the Chinese government at Dalian Changxing Island Harbor Industrial Zone is ITOCHU’s second project in the region following sewage treatment operations deal secured in union with partner Suez Environment.
The new company with employee strength of nearly 400 will utilize Japanese advanced environmental technologies to build an integrated recycling operation targeting sales of approximately JPY20bn for fiscal year 2014.