Scrap shredding plant
Source: Mahindra. The group is setting up India’s first scrap shredding plant in venture with MSTC.
Mahindra Inter Trade Limited and MSTC Ltd are jointly setting up a 100,000 tonne a year auto-shredding plant, the first in the country under the government’s Scrappage Policy.
The plant, under the private-public-partnership, will use scrapped steel from vehicles as well as white goods such as air-conditioners and refrigerators.
The Scrappage Policy, which recovers steel from scrapped products including vehicles of over 10-year age, will ensure a steady supply of scrap to the plant.
The policy gives incentives, subsidies, excise duty relief and discounts to vehicle manufacturers to help secure scrap for the plant.
The plant, along with scrap collection centers, is expected to be cost Rs.120 Crore. fii-news.com
