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
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.
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.
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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