South Korean packaging firm Lotte Aluminium announced earlier this week its plans to construct an aluminium anode foil production plant in Hungary.
Per the firm, the ₩110 billion (US$90.6 million) plan will involve the construction of an industrial complex in Tatabanya, Hungary to be completed by mid-2021. The plant will produce aluminium anode foils for use in the production of secondary batteries in electric vehicles.
Lotte’s plant will cover an area of 60,000 square meters in a local industrial complex. Hungary has seen a marked increase in such projects due to the rise in eco-friendly vehicles and the desire for a local infrastructure to support them.
Construction at the site will commence this spring, and Lotte says the plant will ultimately have a nameplate capacity of 18 thousand metric tons per annum of aluminium anode foils. Lotte anticipates that most of its customer base will arise from battery producers in Europe.
Lotte Aluminium is the Republic of Korea’s largest comprehensive packaging material producer. Among the products in its repertoire are aluminium foils for food packaging, medical packaging, CAN and PET, and other environmentally-friendly products like aluminium anode foils.