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Cerebra Integrated, Cimelia Resource Recovery To Set Up E-Waste Recycling Unit In India

(RTTNews) - India's total IT solutions provider Cerebra Integrated Technologies Ltd. said it formed a strategic alliance with Cimelia Resource Recovery Pte. Ltd., a subsidiary arm of Singapore-listed Enviro-Hub Holdings Ltd., to set up India's largest e-waste recycling unit on 10 acres of land in Bengaluru, involving an investment of Rs.50 crore.

The alliance would help the company to acquire the global expertise and technology support of Cimelia, a leading player in e-waste management solution.

As per understanding, Cimelia will be setting up the entire plant and machinery and will jointly manage the proposed e-waste plant with Cerebra.

The alliance will help Cerebra Integrated double its e-waste management capacity to 60,000 tonnes from the present 30,000 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 Cimelia's global lintel.

The company expects to achieve a turnover of Rs.250 crore in the fiscal year 2013 with a profit margin of 25 per cent.

Cimelia through this alliance will get an entry in Indian e-waste industry. The Singapore company will leverage Cerebrals strong domestic network and infrastructure to cater its existing Indian clients and will be poised well to generate more business opportunities in India.

Cimelia plans to shift its copper smelting unit to India in the next three years and simultaneously set up a plastic unit in India. These growth plans are an extension to this alliance.

Cerebra said it would roll out this plan within the next one year and commence operations immediately.