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14 SEPTEMBER 2021 AL CIRCLE

Gravita starts off aluminium production from its new recycling plant in Mozambique

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

Gravita India had made public that a step-down subsidiary of the company located at the Southeast coast of Africa, Mozambique has commenced commercial production of Aluminium from its new recycling facility with an annual capacity of around 4,000 MTPA in addition to its existing lead recycling facility of 4,500 MTPA and is also work-in-process of setting up of a new plastic recycling unit in Mozambique.

Gravita starts off aluminium production from its new recycling plant in Mozambique

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The Company is anticipating additional revenue of approx. INR 50 crore per annum combined with gross margins of 18% from the aluminium recycling plant.

The flagship recycling company has invested of approx. INR 2 crore for acquiring and commissioning this new recycling unit, which is invested from internal accruals of the group. The recycling plant is built on leased premises keeping because of the judicious use of capital & the lean CAPEX policy of Gravita.

Outlook for the Indian Aluminium Industry

Now onwards, the company will be procuring domestic aluminium scrap for production purposes from this facility and it will provide the requirements of aluminium die casting components manufacturing industries rooted automotive and FMCG sector located in South and East Asian regions.

Gravita India is a leader with integrated operations in non-ferrous metals and plastics recycling, manufacturing and turnkey businesses in eight countries of Asia, Africa and South America. The company sells its products in more than 59 countries.


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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