Gravita India begins new recycling vertical at Ghana, West Africa; Stock surges 1.5%

Gravita India Limited, a number one recycling firm, having its manufacturing presence across the globe, has knowledgeable that Recyclers Ghana Restricted, a step down subsidiary of the corporate located in Ghana, West Africa has began business manufacturing and recycling of waste rubber with an annual capability of round 6,000 MTPA.

As per the submitting, the Firm has incurred capital expenditure of Rs3.80 crore for organising of the power which has been funded by way of inner accruals.

This new recycling plant will assist Recycler Ghana Restricted to cut back its price of manufacturing coupled with discount in carbon footprints as pyrolysis oil generated throughout the rubber recycling course of shall be utilized by the corporate for in-house consumption instead supply of vitality for recycling of Lead and Aluminum scrap.

This diversification is consistent with Gravita group’s imaginative and prescient and it wil l additionally open new enterprise alternative for the group within the discipline of waste Rubber recycling. Going ahead, Gravita has plans to ascertain comparable rubber recycling services at its different manufacturing areas additionally.

At round 10:12 AM, Gravita India was buying and selling at Rs274.35 apiece up by Rs4.1 or 1.52% from its earlier closing of Rs270.25 apiece on the BSE.