Home-grown recycling company Gravita India Ltd on Wednesday said it plans to add 59,200 metric tonnes per annum of copper recycling capacity at its existing facility in Mundra, Gujarat, with an estimated capital expenditure of ₹64 crore. The planned capacity will be added in phases and is expected to be commissioned by March 31, 2029.
The investment will be funded through internal accruals, the company said. The proposed plant will primarily process copper-bearing recyclable materials to recover copper and other valuable materials through the company's recycling capabilities. It is expected to strengthen raw material sourcing and processing capabilities and improve operational integration across its copper recycling value chain.
The company said the expansion is aimed at strengthening its presence in the non-ferrous metal recycling segment, increasing its overall recycling capacity and catering to demand for recycled copper across domestic and international markets. The Mundra facility's location near one of India's major ports provides logistical advantages for sourcing raw materials and serving domestic and international markets, Gravita said.
Shares of Gravita India Limited ended at ₹1,793.00, down by ₹21.90, or 1.21%, on the BSE.