In a move that would ensure jobs, earn revenue and curb pollution as well, United Arab Emirates-based scrap processor Cosmos Green recently signed a pact with Delhi-based Jindal Stainless Ltd to recycle metal scrap worth billions in India over the coming years.
The MOU will result in the creation of a lot of job, around 2,000 to 2,500 new jobs in India in the metal manufacturing and recycling industry, said Rajat Kapur of Cosmos Green. “Unless stakeholders in society take proactive steps today to care for the environment, there could be a catastrophe in the decades ahead.”
To efficiently recycle metal scrap, sorting and processing facilities will be established in strategic locations in the NCR as well as in Hisar, Palwal, Maharashtra, Gujarat, and Orissa. Metal scrap collected will be sent for processing and melting in electric arc and induction furnaces in Hisar, Jajpur, Gujarat, Maharashtra, Haryana and Orissa.
Over the next few years, Cosmos Green expects to process and recycle 1,000,000 metric tonnes of various grades of metal scrap.