Gravita India announced that Recyclers Ghana, a step down subsidiary of the company situated in Ghana, West Africa has started commercial production of Recycled Aluminum Alloys from its new recycling plant having an annual capacity of around 4,000 MTPA in phase-I. Going ahead company has plans to increase the capacity of said plant upto 8,000 MTPA.
The company is already having similar aluminum recycling facility in Senegal, Mozambique, Tanzania, Togo and India. Further, this is in line with the company's vision of replicating the recycling business in different geographies.
The Group has made investment of approx. Rs. 6.75 crore in phase-I for procurement and commissioning of the said Recycling Plant which is invested from internal accruals of the company.
The Company will be procuring domestic aluminum scrap for the purpose of production from this plant and it will cater to the needs of Automobiles and die casting industries situated in Europe & Asia. This plant will help company to change its sales mix by increasing the contribution from aluminum business.