Gravita India Limited has announced that it will begin commercial production of Aluminium Cast-Alloys from a new recycling plant in Togo, West Africa . The company expects to see an additional revenue of around $3,000 per year .
Gravita India Limited (Gravita or the Company), a leading recycling firm with a worldwide presence, has announced that it will begin commercial production of Aluminium Cast-Alloys from a new recycling plant in Togo, West Africa, at a rate of about 4,000 MTPA in phase 1.The Company expects to see an additional revenue of around $3,000 per year.60 Crores per annum, with a gross margin of about 26% from the new capacity.In addition, the company has been mining scrap from Togo for the past 3 years and has established a solid scrap collection network before establishing a plant.
This is in sync with the company's goal of replicating the recycling industry in different geographies.The group has invested about $900,000 in infrastructure.Rs 11.00 crore will be paid in advance to the new recycling plant, which is funded by internal accruals of the corporation, and it will be able to satisfy the demands of the Aluminium die casting components manufacturing businesses of the Auto & FMCG industry in China, Japan, Thailand, Korea, and Vietnam.Gravita Group is one of the world's most well-known recycling firms, and this new recycling facility will assist it in expanding its Aluminium segment capacity in Africa.