Gravita's step down subsidiary starts production of Aluminum Cast Alloys in Tanzania
Gravita India, a leading Indian multinational company having state-of-the-art Lead and Aluminium processing unit at Jaipur (Rajasthan), has announced that its Tanzania based step down subsidiary, Gravita Tanzania has started commercial production of Aluminum Cast Alloys from its new plant having a capacity of around 6000 MTPA.
{alcircleadd}Gravita processes lead and aluminium scrap to produce Secondary Lead Metal and Aluminium Ingots. The Group has made an investment of approximate INR 6 crore for establishment of this New Recycling Plant in Tanzania, Africa having capacity of 6000 MTPA using the accrual fund of the company.
Gravita Tanzania Limited is already operating a Lead Recycling unit in Tanzania. The company was considering expansion to aluminium looking at the growing demand in Europe and Asia. This aluminium recycling plant will diversify the product portfolio of the company while driving profitability. The plant will supply to the Aluminum die casting industries located in Europe and Asian Continent with its logistic convenience.
The Company is expecting revenues of INR 20 crore along with Gross Margin of around 15% from this Aluminum Recycling Plant during FY 2019-20.
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