Chiho-Tiande Group is to build a 500,000 tonne mixed metal scrap recycling facility for imported metals.
An investment of $100 million (£61 million) will be made in the facility after an agreement was signed with the Yantai Economic and Technological Development Zone Administration Committee for developing and operating an integrated processing facility for recycling, processing and sales of imported mixed metal scrap in the Yantai Resource, Recycling and Processing Demonstration Zone in Yantai City, Shangdong Province.
According to the company’s website, it says that Chiho-Tiande Group was the largest importer of mixed copper based scrap in China in 2009 (based on Chinese Customs statistics) and is the largest importer of mixed metal scrap.
