Companies

Mahindras, MSTC form joint venture

Mahindra Intertrade Ltd., a part of the Mahindra Partners Division of the $17.8-billion Mahindra Group, and MSTC Ltd., a Government of India enterprise, have come together to jointly set up a first-of-its-kind greenfield auto shredding and recycling capability in the country.

Mahindra Intertrade owns and operates a network of steel service centres across the automotive, power and home appliances verticals. Mahindra Partners is the $900 million private equity division of the Mahindra Group.

The proposed collaborative venture will establish an integrated automotive recycling capability for end-of-life vehicles. And, it will undertake a host of activities — collection, compaction, transportation, de-pollution, dismantling, shredding, recycling, and disposal.

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Printable version | Nov 20, 2020 5:23:52 PM | https://www.thehindu.com/business/companies/Mahindras-MSTC-form-joint-venture/article14558975.ece

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