MSTC desires to build a vehicle shredding plant

To create a vehicle shredding plant, Metal Scrap Trading PSU MTSC has asked Indian government for approval. With a total investment of Rs. 120 crore, the plant is expected to set up in Gujarat. Currently, India depends on US, UK and other nations for catering to the needs of its automobile industry. Around 9 millions tones of vehicle scrap are imported every year, which are recycled into world-class autograde products.  In order to meet the raw material needs of the country, MSTC plans to build a shredding plant for recycling used vehicles and seeks permission for a plant with a capacity of 80 tonnes per hour from the Ministry of Finance. India needs minimum 25-30 plants to fulfill the requirements of the domestic industry and the much-anticipated MTSC plants will also pave way for private sector to venture into the field.