Private investment firm Manna Capital Partners is planning to build an aluminium can sheet rolling mill and recycling centre in New Mexico, US, with an investment of more than $2bn.
The facility is expected to be a sustainable, efficient and high-quality provider of aluminium can sheets that will meet the surging demand for aluminium cans in the US.
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In May 2022, Manna Capital Partners partnered with Ball Corporation, an aluminium beverage packaging provider, for the project’s development. Under the partnership agreement, Manna Capital will construct and operate the facility, while Ball Corporation will sign a long-term supply agreement with the intention of acquiring a minority equity stake in the mill.
The State of New Mexico committed $5m from its Local Economic Development Act (LEDA) job-creation fund for the development of the project. The Village of Los Lunas will act as the fiscal agent and support the manufacturer by issuing Industrial Revenue Bonds.
The construction of the facility is expected to begin in late 2023, with the start of manufacturing following in 2026. It is expected that the project will generate around 950 jobs and have an economic impact of $3.4bn over a period of ten years.
Location
The aluminium rolling mill and recycling centre will be located on a 1,300-acre land parcel in Los Lunas, Valencia County, New Mexico, which Manna Capital intends to purchase specifically for the project.
The location is preferred for the project due to its competitive business climate, proximity to transportation networks across the south-west of the US, and the governor’s commitment to green energy.
The Albuquerque Regional Economic Alliance (AREA) played an important role in the site selection.
Details of the new aluminium can sheet rolling mill
The new state-of-the-art aluminium rolling mill will have a manufacturing capacity of up to 1.3 billion pounds of aluminium a year.
The facility will use sustainable manufacturing techniques, which will require more than 500GW of electricity a year. It will primarily focus on aluminium can sheets and the single-serve beverage can segment.
The project will allow the developers to create a more robust and sustainable domestic supply chain, as the North American industry is currently reliant on imported aluminium can sheet coils to meet the growing demand from the beverage can packaging market.
The demand for aluminium cans is expected to continue growing as the markets for hard seltzer, flavoured water, energy drinks and canned beverages expand.
Sustainability features
Aluminium is emerging as the preferred choice for manufacturing beverage cans due to its economic value and recycling ability. Around 75% of aluminium ever produced is still in use.
The recycling centre of the new facility will enable the recycling and reuse of aluminium content. The developers are also working to create a circular economy for aluminium can sheets that will help customers meet their sustainability commitments.
The facility will be completely powered with renewable energy and utilise 85% recycled content to manufacture its aluminium sheets.
Renewable energy will be supplied to the facility by Public Service Company of New Mexico (PNM).
Marketing commentary on Manna Capital Partners
Founded by Junior Bridgeman and Kevin Attkisson, Manna Capital Partners is based in Louisville, Kentucky. It focuses on investments across various industries in the US and other countries.
It targets sustainable and impact-oriented opportunities in several communities while also aiming to improve and support small and women-oriented business enterprises.
