Gravita Commenced Production at Mozambique Aluminum Recycling Plant

SEATTLE (Scrap Monster): Gravita announced that its step down subsidiary located in Mozambique, East Africa has commenced commercial production of aluminum metal from its new recycling plant. The new recycling plant is expected to deliver additional revenue of approximately INR 50 crore per annum. The company expect gross margins of nearly 18% from the plant.

The aluminum recycling plant, set up on leased premises, has seen an investment of approximately INR 2 crore starting from procurement till commissioning. The plant has an estimated annual production capacity of around 4,000 million tonnes. The company already has an existing lead recycling facility in Mozambique with a capacity of 4,500 million tonnes per annum. In addition, it is setting up a new plastic recycling facility in the country, said the company press release.

Gravita will procure aluminum scrap domestically, which will be used as raw material for production of aluminium from the plant. The metals produced from the facility will mainly serve automotive and fast moving consumer goods (FMCG) sectors in South and East Asian markets.

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