Umm Al Quwain, United Arab Emirates-based scrap processor Cosmos Green says it has signed a memorandum of understanding (MOU) with New Delhi-based Jindal Stainless Ltd. that will “lead to the recycling of metal scrap worth billions [of rupees] in India over the coming years” and will “result in the creation of a lot of jobs in the metal manufacturing and processing industry.”
In an announcement posted to the IndiaCSR website, Cosmos Green refers to Jindal as “one of the largest stainless steel conglomerates in India and amongst the top 10 stainless steel conglomerates in the world.”
“I believe that there is nothing of greater concern today than the well-being of the environment,” states Rajat Kapur of Cosmos Green. “Unless stakeholders in society take proactive steps today to care for the environment, there could be a catastrophe in the decades ahead. I shudder to think of the world we are bequeathing to the next generation. Unless we take steps today and drastically curb pollution and waste, we will not only find it far more difficult to live on Earth in the decades ahead, we may not be able to live on Earth at all.”
Cosmos Green says as a result of its MOU with Jindal Stainless, “Pollution will be reduced, because recycling will take much solid waste and transform it into new and usable products. By recycling, less waste will end up in landfills or be discarded on the ground.”
Jindal Stainless operates three stainless steel mills in India with a combined annual capacity of more than 1.6 million metric tons. The company also operates a network of downstream facilities in India plus trading and sales offices in Asia, Europe, South America and the United States.
Cosmos Green describes itself as being at the heart of the metal recycling industry, with a diversified portfolio of processing and trading operations that reach worldwide.