Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) is reportedly planning to set up the country’s first auto shredding unit in Gujarat or Maharashtra along with MSTC, a government owned company. A new company will be set up by Mahindra Intertrade and MSTC through a 50:50 joint venture (JV). A ‘sizeable amount’ will be required to set up several shredding facilities in the country along with collection centers.

The raw material for these facilities will come from old vehicles and consumer durables. The finished product, steel scrap, will be sold in the open market. The steel processing units of Mahindra could also be buyers of this scrap.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.