Mahindra, MSTC plan JV for first auto shredding plant in India

By admin May 12, 2016 1:49 pm IST

   Mahindra Intertrade Ltd and MSTC Ltd, a PSU under the Ministry of Steel, signed a MoU for setting up a joint venture company for establishing first of its kind auto shredding plant in India.
Steel and Mines Minister Narendra Singh Tomar remarked that the joint venture will contribute to ‘Make in India’ drive of the government. He appreciated the fact that the enterprise would support ‘Clean India’ by waste utilisation and also bring down imports of scrap resulting in foreign exchange savings. Such initiatives are need of the hour for a stronger and better India and would help the development of steel industry also, he added.

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