Gravita India Limited, a leading "Recycling Company" having its presence around the globe with 12 eco-conscious state-of-the- art manufacturing facilities in Asia & Africa with a capacity of more than 3,00,000 MTPA in multiple scrap recycling verticals, has announced that its step down subsidiary of company Gravita Netherlands BV (GNBV) has executed a Memorandum of Understanding (MoU) to acquire a waste tyre recycling plant in Romania from an existing entity based out in Romania having a capacity of approximately 17,000 MTPA. This will be Gravita’s 1st recycling facility in Europe.

This acquisition will be done by forming a separate SPV in Romania in which GNBV will be holding 80% of equity with management control in the said SPV and remaining equity will be held by other partners based in Romania.

Further, total investment in this transaction will be approx. Rs. 40 crore and GNBV will be investing approx. Rs. 32 crore towards its contribution subject to in depth financial, environmental and legal due diligence.

GNBV also aims to expand its recycling business operations across the European market, leveraging new market opportunities and establishing strategic partnerships to drive growth. This acquisition will enhance our presence, increase our customer base, and strengthen our competitive edge in the European market.

The company already has similar rubber recycling facilities in Senegal, Togo, Ghana, and Tanzania. This is in alignment with the company’s vision of diversification and expansion plan of replicating our recycling business in different geographies.