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Croatia's CIAK starts works on new lithium-ion battery recycling centre

Croatia's CIAK starts works on new lithium-ion battery recycling centre All polymer lithium-ion battery module. Image by APB Corp.

ZAGREB (Croatia), May 4 (SeeNews) - Croatian car parts and accessories distributor CIAK Grupa [ZSE:CIAK] said it has started preparatory works for the planned construction of a lithium-ion battery recycling centre.

After signing a contract with an unnamed company that will build the facility, CIAK is now preparing the groundwork for the construction phase, as well as required project documentation and applications for environmental permits, the group said in a bourse filing last week.

CIAK expects to launch operations at the new lithium-ion battery recycling centre by the end of 2023. The estimated cost of the project was not disclosed.

The facility will be located near its lead-acid battery recycling centre in Zabok, in northwestern Croatia, built in 2015.

CIAK's main line of business is the distribution of car parts, car batteries and oils; waste management and recycling; and wholesale.

Its shares last traded on the Zagreb bourse on April 30, closing 0.5% higher at 42 kuna ($6.7/5.6 euro).

(1 euro = 7.54119 kuna)

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