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Indian firm plans to set up battery recycling plant in Oman

27 Feb 2023 By GULAM ALI KHAN

Muscat – Gravita India Limited, a Jaipur, India-based leading global recycling company, is planning to establish a battery recycling plant in Oman with an initial capacity of 6,000 metric tonnes per annum (MTPA).

‘Gravita India Limited is delighted to announce that step down subsidiary of the company Gravita Netherlands has executed a memorandum of understanding (MoU) to establish a recycling plant in Oman. This will be Gravita’s first recycling facility in the Middle Eastern market,’ Gravita said in a disclosure submitted to the Indian stock exchanges.

Gravita Netherlands will be holding 50 per cent of equity with management control in the recycling project and remaining equity will be held by other partners based in Oman, the disclosure added.

‘In the first phase, the battery recycling plant in Oman will be established with a capacity of 6,000 MTPA,’ the company noted.

It said, ‘Total investment in this joint venture for the first phase will be approximately Rs400mn (around RO1.9mn) and Gravita Netherlands will be investing approximately Rs200mn towards its share in fixed capital and working capital as its contribution.’

In a social media post, Gravita said its project division will design and develop the plant machinery at its facility located in Jaipur and will commission the complete plant in Oman.

‘This new facility in Oman is part of our vision to replicate our recycling business in different geographies, and we are excited to expand our global footprint even further,’ the company added.

Gravita said it already has similar recycling facilities in Togo, Senegal, Ghana, Mozambique, Tanzania, Sri Lanka and India.

Gravita is a leading global recycling company with 14 eco-conscious state-of-the-art manufacturing facilities in Asia, Africa and Central America with a capacity of 227,719 MTPA. The group is having global footprints in more than 70 countries.

‘We are proud to continue our commitment to sustainability and environmental responsibility through our recycling efforts. We look forward to the successful establishment of our new recycling plant in Oman,’ the company added.

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