India/Saudi Arabia – Gravita India has entered into a joint venture agreement with the Best Group of Saudi Arabia to create a US$ 6 million lead recycling operation with an annual capacity of 7200 tonnes. ‘The two companies will be 50%-50% partners,’ clarifies Gravita’s President MC Mehta.
The Best Gravita Saudi Ltd facility will produce lead and lead products in Saudi Arabia, including fine lead, with battery scrap as the main raw material. Mr Mehta comments: ‘Since Saudi Arabia has many automobiles with good availability of raw materials, we expect the plant to do well.’
Gravita already has a number of lead smelting facilities in operation, with two in Asia, six in Africa, and one in Honduras. Earlier this year, the stock-listed company acquired two facilities in India, namely Metal Inc. of Kathua in Kashmir and K M Udyog in Jammu state. In addition to recycling, the group is also engaged in the global trading of lead scrap, ore, concentrates, battery scrap and allied lead products.