The public transport arm of the southern Indian state of Kerala has commenced construction of the country’s largest registered vehicle scrapping facility (RVSF), a government official said on Thursday, February 26.
The project to be implemented by the Kerala State Road Transport Corporation (KSRTC) in partnership with South India Metal Corporation (SIMCO) will have the capacity to scrap up to 100 mt of vehicles per day, following scientific protocols, he said.
The project is being built with an estimated investment of $3.2 million and is scheduled to be completed within the next eight months.
Vehicle owners scrapping their vehicles through the RVSF center will receive a fair and transparent market price and become eligible for tax concessions and other central government benefits when purchasing a new vehicle under the Certificate of Deposit (CoD) system, the official said.