 "M&M forms JV with PSU firm MSTC for auto shredding plant")
Mahindra & Mahindra Ltd (M&M) has formed a joint venture with MSTC Ltd, a Government of India company that is engaged in domestic and international trading, for setting up the country’s first shredding plant to recycle end of life vehicles (ELVs), white goods and other products for the production of ferrous and non-ferrous shredded scarp.
The JV, Mahindra MSTC Recycling Private Limited, has been formed between MSTC Ltd and Mahindra Intertrade Limited (MIL), a part of Mahindra Vehicle Manufacturers Limited (MVML) - a wholly-owned subsidiary of M&M.
In an effort to recycle waste and protect environment, in addition to importing bulk raw material for various industries, MSTC has taken a series of initiatives, which include plan to set up auto shredding plant for supply of shredded scrap to various secondary steel industries in India.
On the other hand, Mahindra Intertrade provides solutions for processing of flat steels and operates India’s largest network of steel service centres across automotive, power and home appliance verticals.
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