Japanese, Hong Kong, Thai joint venture to start scrap metal export
BANGKOK, NNA - Three Japanese, Hong Kong, and Thai scrap metal recycling businesses will start exports of scrap metal to global markets in January through their joint venture established in Thailand.
Japan's Suzuki Shokai Co., Hong Kong-listed Chiho Environmental Group Ltd., and Thailand's Hidaka Yookoo Enterprises Co. launched Hidaka-Chiho Metal Recycling (Thailand) Co. in Chonburi Province, southeast of Bangkok, in November.
In response to China’s import restrictions of waste materials, the triangular venture plans to export scrap metal for use as refining materials to China, India and other countries.
“China’s import restrictions have become a global issue and has had a major impact on Japan,” Tsukasa Komatani president of Suzuki Shokai, said in a statement. “By teaming up with these two partners, we hope to solve this global environmental issue.”
The local venture, employing 230 people, can scrap and recycle 200,000 tons of metal annually by procuring the metal used in automobiles, tools, and office equipment from North America, Europe, and Japan.
In 2020, the venture will produce 60,000 tons of scrap metal, and in the following year, it also plans to export shredded mixed metals such as aluminum.