The strategic alliance will help Cerebra Integrated to acquire the global expertise and technology support of Cimelia, a leading player in e-waste management solutions to set up the proposed Unit on 10 acres of land in Bangalore. Cimelia will be setting up the entire plant and machinery and will jointly manage the proposed E-waste plant with Cerebra Integrated.
The alliance will help Cerebra Integrated double its E-waste management capacity from 30,000 to 60,000 tonnes annually. Through the new plant and alliance, Cerebra will be better equipped to recycle E-waste in domestic and will get an entry in international market, through Cimelias global clientele. The company will be investing Rs. 50 crore for the proposed unit and aims to achieve a company turnover of Rs. 250 Crore in FY 2013 with a profit margin of 25%.
Commenting on the announcement V. Ranganathan, Managing Director, Cerebra Integrated Technologies Limited said, We intend to set up India's largest e-Waste Recycling facility at Bangalore. This will be a major step towards greener growth. Added to this the Government of Karnataka has extended its invitation by signing an MOU and has allotted land for this in Bangalore to facilitate this growth.