Gravita India’s step-down subsidiary -- Gravita Netherlands BV (GNBV) has completed the acquisition of a Waste Tyre Recycling plant in Romania and formed a separate SPV in which it holds 80% of equity with management control, while remaining equity held by other partners based in Romania. Further, total investment in this transaction is around Rs 40 crore and GNBV has invested around Rs 32 crore towards its contribution to acquire the said Waste Tyre Recycling plant in Romania having a capacity of around 18,000 MTPA.
Earlier, the GNBV had inked Memorandum of Understanding to acquire a Waste Tyre Recycling plant in Europe.
Gravita India is a leading recycling company having its operations in Non-Ferrous Metals and Plastic Recycling.
