The Memorandum of Understanding (MoU) was recently signed between Mahindra Intertrade Ltd and MSTC Ltd for setting up a Joint Venture Company for establishing first of its kind Auto Shredding Plant in India in New Delhi. The plan would be set up for Recycling of Specialised Steels and other non-ferrous metals. The setting up of a Shredding Plant in India will reduce the dependency on import of Shredded Scrap and would be helpful for the secondary steel sector. Apart from this, the shredding of automobiles and other scrap will facilitate & promote recycling, reduce pollution and make Indian roads safe for driving. Recycling will also make Indian Steel more competitive vis-a-vis imported steels.