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The deal, valued at Rs 110 crore, will help Cerebra to become one of the first global Indian MNCs in the area of waste from electronics and electrical equipment (WEEE).
Presently, the electronics waste management industry is estimated to be around $20 billion and is one of the fastest-growing industries worldwide. In India the market is estimated to be $2 billion and is growing at approximately 25% year-on-year.
V Ranganathan, Managing Director, Cerebra Integrated Technologies Limited, said: “We will be amongst the first global Indian MNC in this sector with one of the finest e-waste facilities in the world at Singapore. This acquisition will also help us to build one of the largest facilities in Bangalore, spread across 100,000 sq feet on 10 acres of land.”
The proposed plant will be set up with an investment of $10 million (around Rs 55 crore) at Bangalore. According to reports, India generates 2.5 million tonnes of waste a year. Bangalore generates approximately 75,000 tonnes of e-waste annually and Mumbai generates over 82,000 tonnes of e-Waste.
