Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

MTC Group, Exigo Recycling Announce JV, To invest $25 million

- Advertisement -
  • The joint venture company will be headquartered in Mumbai and its plants will be operational in Bengaluru and Chennai by March 2022
  • The statement said that MERPL will make use of MTC’s position as a global market leader in ferrous and non-ferrous scrap business and Exigo’s expertise in setting up low-cost modular recycling and refining plants

Metal scrap processors the MTC Group and E-waste recycler Exigo Recycling Private Limited have formed a joint venture company MTC-Exigo Recycling Pvt. Ltd (MERPL). The joint venture company will be headquartered in Mumbai and its plants will be operational in Bengaluru and Chennai by March 2022, a joint statement said.

MERPL targets to process over two lakh tons of e-waste annually. It wants to ramp up the recycling capacity in a phased manner across ten cities in India, including NCR, Hyderabad, Ahmedabad, Kolkata, and Lucknow.

MERPL’s line of activity will also include pre-processing and recycling of Lithium-Ion Batteries and EV Batteries of different chemistries, Solar PV Module recycling, Plastic recycling, and Waste to Energy (W2E), as per a statement. The MTC Group and Exigo Recycling plan to invest nearly $25 million in a phased manner in developing MERPL.

- Advertisement -

The statement said that MERPL will make use of MTC’s position as a global market leader in ferrous and non-ferrous scrap business and Exigo’s expertise in setting up low-cost modular recycling and refining plants, innovative and indigenous cutting-edge technologies in different waste streams and maximising resource recovery in a cost-effective manner.

Sanjay Mehta, Director, MTC Group said that the exponential increase in the manufacturing and obsolescence of electronic and electrical equipment which are laden with metals and rare earth elements has necessitated the adoption of a circular economy approach to save these valuable resources for future generations and to reduce the effective carbon footprint.

Managing Director, Exigo Recycling, Raman Sharma, said that they intend to develop an ecosystem to offer opportunities to the budding entrepreneurs and startups through technology, finance and expertise in waste management.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Union Budget 2024-25: What Can The Electronics Sector Expect?

0
Focusing on localisation in the electronics ecosystem, the first Union Budget post-elections has revamped customs duties on raw materials and equipment, extending support for...

“ST SiC Optimises The Performance Of EV Applications”

0
STMicroelectronics plans to introduce Silicon Carbide (SiC) and Gallium Nitride (GaN) for the electric vehicle ecosystem in India. In an interview with Francesco Muggeri...

Electric Construction Machines Forecast $126 Billion Market Growth

0
IDTechEx's report on electric construction machines aims to boost industry growth, forecasting a US$126 billion market by 2044 with ongoing advancements in technologies and...

Buzz

Ahamani EV Technology Seeks Tech Sharing With Indian Auto Giants

0
The company has created significant intellectual properties, such as improvements in battery technology, motor design, powertrain systems, and anti-theft monitoring mechanisms. Ahamani EV Technology Co.,...

Electric Construction Machines Forecast $126 Billion Market Growth

0
IDTechEx's report on electric construction machines aims to boost industry growth, forecasting a US$126 billion market by 2044 with ongoing advancements in technologies and...

Quantum Energy To Increase EV Production By 8x In FY25

0
The electric two-wheeler manufacturer based in Telangana has ambitious expansion plans for this year, aiming to increase its production from 6,000 units last year...

Important Sectors

Union Budget 2024-25: What Can The Electronics Sector Expect?

0
Focusing on localisation in the electronics ecosystem, the first Union Budget post-elections has revamped customs duties on raw materials and equipment, extending support for...

“ST SiC Optimises The Performance Of EV Applications”

0
STMicroelectronics plans to introduce Silicon Carbide (SiC) and Gallium Nitride (GaN) for the electric vehicle ecosystem in India. In an interview with Francesco Muggeri...

Ahamani EV Technology Seeks Tech Sharing With Indian Auto Giants

0
The company has created significant intellectual properties, such as improvements in battery technology, motor design, powertrain systems, and anti-theft monitoring mechanisms. Ahamani EV Technology Co.,...

Quantum Energy To Increase EV Production By 8x In FY25

0
The electric two-wheeler manufacturer based in Telangana has ambitious expansion plans for this year, aiming to increase its production from 6,000 units last year...

IndianOil And Indian Navy Sign MoU For Hydrogen Fuel Cell Tech In Heavy-Duty E-Mobility

0
IndianOil partners with the Indian Navy to launch an innovative green hydrogen fuel cell bus, marking a major leap towards sustainable heavy-duty transportation solutions. In...

Manufacturing

Union Budget 2024-25: What Can The Electronics Sector Expect?

0
Focusing on localisation in the electronics ecosystem, the first Union Budget post-elections has revamped customs duties on raw materials and equipment, extending support for...

India’s Roadmap To Becoming A Global Leader in Electronic Manufacturing: Policies, Progress, And Prospects

0
India's electronic manufacturing sector is poised for significant growth in the coming years, driven by ambitious government initiatives and strategic economic policies. Currently employing...
Mother-board-electronic-components

MeitY Announces $350 Billion PLI Plan To Boost Electronics Sub-Assemblies

0
MeitY announces allocation of $350 billion for a new PLI scheme, aiming to make India a global hub for electronics components and boost exports...

NITI Aayog Report Urges To Boost Electronics Global Value Chain

0
Aiming for the country to become a global hub for electronics manufacturing, the recent report by NITI Aayog called for interventions, analysing India’s position...

HPL Electric Teams with G Ramway To Make Relay Switches

0
Eyeing India’s self-sufficiency goals, smart meter manufacturer HPL Electric has inked a deal with China-based G-Ramway Technology to boost local manufacturing off switches. Last week,...