India to get its first automobile shredding plant by Mahindra

India to get its first shredding plant by Mahindra

Setting up of new joint venture has been decided between Mahindra Intertrade Limited and the public sector MSTC Limited. Both the parties have signed MoU to establish India’s first ever auto shredding plant. The reason for setting up this plant is twofold. Firstly it will aid the steel sector. Secondly, it will promote processes of recycling, environment friendly road construction and many more.

The signing ceremony was attended by the Union Minister of Steel & Mines Narendra Singh Tomar and Secretary of Steel, Aruna Sundararajan. Member of Group Executive Board of Mahindra & Mahindra, Mr. Zhooben Bhiwandiwala, Managing Director of Mahindra Intertrade, Mr. Sumit Issar and MSTC Chairman Shailendra Krishna Tripathi with Managing Director were also there on the occasion.

On the occasion, Mr. Tomar said “the project would help waste utilization and bring down the imports of scrap, leading to foreign exchange savings.”

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