Mahindra Group Inks Pact With Maha Govt To Set Up: Multiple Vehicle Scrapping Units

Mahindra group on Monday said it has signed of a memorandum of understanding (MoU) with the Maharashtra government for setting up multiple vehicle-scrapping units in the state. Mahindra MSTC Recycling Pvt Ltd, which operates recycling facilities under the Cero brand, already has a recycling facility at Pune and is looking to set up four additional facilities in Mumbai, Nagpur, Aurangabad and Nashik.

The scrappage centres will be equipped with recycling end-of-life 2/3-wheelers, passenger and commercial vehicles in accordance with all legal and environmental norms, with a planned capacity of 40,000 vehicles annually, the group said in a statement.

A joint venture between Mahindra Accelo (a Mahindra group company) and MSTC (a government of India enterprise under Ministry of Steel) -- Mahindra MSTC Recycling Pvt Ltd currently has 11 recycling units in different parts of India. It plans to increase presence in more than 25 locations. "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 and avail the benefits on purchase of newer vehicles which will be linked to certificate of deposit - to be provided by Cero," Mahindra Accelo Managing Director Sumit Issar said.

(PTI)