Panaji sources have reported that Union Steel Minister Chaudhary Birender Singh said that setting up auto-shredding plants will not only help India save foreign exchange but also preserve its natural resources like iron ore for posterity. He said "It will reduce the dependence on present annual import of scrap of 5-6 million tonnes of shredded scrap in the country. Consequently, foreign exchange outgo will also be reduced. In addition, the auto grade steel of vehicles will be recycled into a similar grade of steel”.



Meanwhile Singh said at the fifth Indian International Metal Re-Cycling Conference in Goa. Further Singh said his Ministry had already set up a joint venture for an auto-shredding plant and that setting up of similar ventures would bode well for the country's bank of natural assets as well as environment.

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Moreover on an average, 74% of energy is saved using steel scrap material versus ore. This also saves 40% water and leads to 58% reduction in carbon dioxide emissions.


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