“The country imports around 5-6 million tonnes of scrap every year [but] I think India can be self-sufficient in steel scrap in the long term,” he said.
“Maybe very small amounts of scrap will be imported into the country, but most of that will be domestic scrap amid all of these shreddable parts and heavy vehicles,” Issar said.
Mahindra Intertrade first announced in April 2016 that it would begin building car recycling plants in India alongside government enterprise MSTC, which is jointly funding the project.
The company is part of the Mahindra Group, which began life in 1945 and employs more than 200,000 people in over 100 countries.
Its activities include scrap trading, flat steel processing and producing new vehicles, and the financial year of 2015-2016, it reported a company-wide revenue of Rs1.16 trillion ($17.37 billion).
Producing premium scrap
India currently relies on imports of high-quality shredded scrap material, while comparatively lower quality heavy melt scrap (HMS...