For setting up a Joint Venture Company for the first Auto Shredding Plant in India, a Joint Venture agreement has been signed between MSTC Limited and Mahindra INTERTRADE Ltd in the presence of the Minister of Steel Chaudhary Birender Singh and the Secretary Steel, Government of India, Aruna Sharma.

Speaking on the occasion Chaudhary Birender Singh said this is a unique initiative and will give boost to the "Make in India" programme by providing a source of specialized steel.

He said that PPP mode is the way forward for bringing in latest technology into the recycling of high-grade (auto-grade) steel and providing high-grade raw material to the steel plants in the North India as well. He said there is need for zoning of collection centers in the country and more such plants can be set up in the country in future.

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