Mahindra Intertrade Ltd., a wholly owned subsidiary of the Mahindra Group, has signed a Memorandum of Understanding (MoU) with MSTC Ltd. (a Government of India enterprise formerly known as Metal Scrap Trading Corporation Limited) to set up India’s first auto shredding facility. The MoU was signed under the aegis of the Minister of Steel and Mines, Narendra Singh Tomar, the Secretary Steel, Aruna Sundarajan at the occasion while senior management from the Mahindra Group - Zhooben Bhiwandiwala, Managing Partner, Mahindra Partners, Sumit Issar, Managing Director, Mahindra Intertrade Ltd. and Shailendra Krishna Tripathi, Chairman & Managing Director, MSTC Ltd. were also present.
Auto-shredding in India is largely an unorganised activity with vehicles long past their usable life still in use, especially in rural and semi-urban India. Older vehicles are currently dismantled in an unscientific manner, hazardous to the environment. The extent to which the vehicle is recycled is also very minimal, with most vehicular residue making its way into landfills. The proposed facility will be equipped with fully automated end-of-life vehicle recycling equipment and will be India’s first such facility. Intertrade owns and operates the country’s largest network of steel service centres across the Automotive, Power and Home Appliances verticals. Intertrade is a leading player in the processing of automotive steel in Western India, and in electrical steel for power and home appliance applications. MSTC Limited is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India. Given the new stricter norms related to road worthiness of automobiles, a huge number of vehicles are expected to come under the end-of-life category in India.
Speaking on the occasion, S. K. Tripathi, Chairman & Managing Director, MSTC Ltd. noted, “We are delighted to partner with Mahindra Intertrade for this industry first initiative. MSTC is always looking at innovative ways to recycle scrap and protect the environment and this facility will help to participate in the emission targets which India has promised to fulfil via the COP 21 Emission Treaty.”
“The concept of vehicle scrappage is still new to India as compared to the West where it is a lucrative industry. While the number of cars has increased substantially over the last two decades, there is no recycling or scrapping provision in place to deal with old and discarded vehicles. Recycling, if done correctly, is not only environment friendly but will also help keep older vehicles off the streets. We are delighted to have MSTC Ltd. partner with us in this project which presents so much potential,” said Zhooben Bhiwandiwala, Managing Partner, Mahindra Partners.
According to Sumit Issar, Managing Director, Mahindra Intertrade Ltd., "Our study indicated that recycling not only saves energy costs but also minimizes the need for other resources as every tonne of new steel manufactured from scrap steel saves a substantial amount of iron ore, coal and limestone. Moreover, if India focuses on scrapping old automobiles, it can recover significant amounts of steel scrap, aluminium scrap, plastic and rubber. Hence, there is a pressing need for facilities such as this one.”
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