The government of the northern Indian state of Punjab has proposed setting up an auto shredding plant at the northern Indian steel hub of Mandi Govindargh, a source in the government said on Monday, September 25.
The source said that the proposal for an auto shredding plant has been sent to India’s Ministry of Steel and the Punjab government is expecting to receive formal approval soon. The details of the project and investments required will be clarified in greater detail following receipt of approval from the steel ministry.
The source said that Mandi Govindgarh has over 500 medium and small-scale steel producing and fabricating units, adding that the auto shredding plant will act as the closest source of scrap as raw material for these units.
This will be the second planned auto shredding plant after the one proposed to be set up by government owned and operated scrap trading firm, MSTC Limited, and diversified Mahindra Group.