Mahindra Group partners Maharashtra government to set up vehicle-scrapping units
Mahindra Group on Monday announced that it has signed a memorandum of understanding (MoU) with the Maharashtra government for setting up multiple vehicle-scrapping units in the state. The scrappage centres will recycle end-of-life two- and three-wheelers as well as passenger and commercial vehicles as per legal and environmental norm.
The vehicle scrapping centres will be equipped with a planned capacity of 40,000 units annually. The facilities will be operated by Mahindra MSTC Recycling Pvt Ltd - a joint venture between Mahindra Accelo (a Mahindra group company) and MSTC (a government of India enterprise under Ministry of Steel).
Mahindra MSTC operates recycling facilities under the Cero brand, and already has a recycling facility at Pune. It is looking to set up four additional facilities in Mumbai, Nagpur, Aurangabad and Nashik. The joint venture also operates 11 recycling units in across the country, and plans to increase its presence in more than 25 locations.
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Customers who scrap their vehicles at the Cero facilities will be provided with a certificate of deposit which they can use to avail benefits on purchase of newer vehicles. "Cero aims to create a network of world-class facilities across Maharashtra and India. Our centres will provide a platform for customers to scrap their vehicles in environment friendly manner," said Mahindra Accelo Managing Director Sumit Issar, PTI reported.
Earlier this month, Tata Motors also joined hands with the state government to set up its first vehicle scrapping centre with the capacity to recycle up to 35,000 vehicles each year for end-of-life passenger and commercial vehicles. According to the deal, Tata Motors will get help from the Industries, Energy and Labour departments to get necessary approvals.
(with inputs from PTI)