Mahindra Intertrade, MSTC to set up auto shredding unit
Mahindra Intertrade, part of the Mahindra Group, on Thursday partnered with state-run MSTC to set up an automobile shredding facility. A memorandum of understanding (MoU) was signed between the company and MSTC, Mahindra Intertrade said in a statement.
The proposed facility will be equipped with state-of-the-art, fully automated end-of-life vehicle recycling equipment and will be India's first such facility, it added. MSTC CMD S K Tripathi said: "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."
Mahindra Intertrade MD Sumit Issar said recycling not only saves energy costs but also minimises the need for other resources as every tonne of new steel manufactured from scrap steel saves substantial iron ore, coal and limestone.