First of its kind ‘Auto Shredding Plant’ in India in New Delhi will be setup by Mahindra

Q.  First of its kind ‘Auto Shredding Plant’ in India in New Delhi will be setup by
- Published on 29 Apr 16

a. Tata Motors
b. Mahindra
c. Nissan
d. Toyota

ANSWER: Mahindra
 
  • A Memorandum of Understanding (MoU) was signed between Mahindra Intertrade Ltd and MSTC Limited, a PSU under the Ministry of Steel, for setting up a Joint Venture Company for establishing first of its kind Auto Shredding Plant in India in New Delhi for recycling of Specialised Steels and other non-ferrous metals.
  • The enterprise would support Clean India by waste utilization and also bring down imports of scrap resulting in foreign exchange savings.
  • The setting up of a Shredding Plant in India will reduce the dependency on import of Shredded Scrap which will help save precious foreign exchange as well as it will be helpful for the secondary steel sector.
  • Apart from this, the shredding of automobiles and other scrap will facilitate & promote recycling, reduce pollution and make Indian roads safe for driving. Recycling will also make Indian Steel more competitive vis-a-vis imported steels.

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