Faridabad, Jun 1 (PTI) Electronic waste recycling firm Namo eWaste Management Ltd on Monday said it has signed an agreement with the Haryana government for setting up a Rs 100-crore plant to produce rare earth from battery wastes and other e-wastes.
According to the memorandum of understanding (MoU) signed under the ‘Make in Haryana’ industrial policy framework, a new plant will be established with an installed capacity of processing 25,000 metric tonnes per annum (MTPA) of e-waste and battery waste, the company said.
The revenue impact is projected at Rs 500 crore per annum to the company’s top line upon full operationalisation, it said.
The pact paves the way for the company to establish a state-of-the-art manufacturing facility dedicated to the production of rare earth metals – a critical resource in today’s technology-driven economy.
The MoU was signed in the presence of Haryana Chief Minister Nayab Singh Saini, along with several officials.
“Rare earth metals lie at the very heart of modern technology — from electric vehicles to renewable energy systems. By establishing domestic production capabilities, we are not only reinforcing our company’s growth trajectory but also making a meaningful contribution to India’s vision of self-reliance,” said Akshay Jain, Managing Director, Namo eWaste Management Ltd.
Operating since 2014, Namo eWaste Management Ltd has four certified facilities with an annual processing capacity of over 82,000 metric tonnes of electronic waste, serving enterprises, government bodies, and institutional clients across the country. PTI CORR HVA
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