MSTC Ltd has signed a Memorandum of Understanding (MoU) with Mahindra Intertrade for a joint initiative to set up India's first auto shredding facility. The proposed facility will be equipped with state-of-art, fully automated end-of-life vehicle recycling equipment and will be India's first such facility. This is expected to facilitate recycling of scrapped automobiles .
Speaking on the occasion, S K Tripathi, Chairman & managing Director, MSTC Ltd, said, " MSTC is always looking at innovative ways to recycle scrap and protect the enviromnent and this facility will help to participate in the emission targets which India has promised to fulfill via the COP 21 Emission Treaty."
"Outlook" weekly magazine, May 16, 2016 edition.