Attero to expand e-waste recycling with Rs 80 billion investment
WATER & WASTE

Attero to expand e-waste recycling with Rs 80 billion investment

Nitin Gupta, the CEO and Co-Founder of Attero, revealed that the electronic waste and battery recycling company planned to invest approximately Rs 83 billion over the next five years to expand its capacity.

He mentioned that currently, the company had the capability to recycle up to 1,44,000 tonne of electronic waste (e-waste) and 15,000 tonnes of lithium-ion battery annually.

Gupta informed that in the forthcoming five years, they intended to invest roughly around $1 billion overall, incorporating various forms of capital such as debt, equity, and other non-diluted forms of capital.

He elaborated that the company was experiencing a growth rate of 100 per cent year-on-year and was progressively enhancing its capacity.

Gupta stated that a greenfield facility was under construction in Europe, specifically in Poland, where work had already commenced. Additionally, another greenfield facility was being established in India, with the space being finalized in Andhra Pradesh or Jharkhand. The projected e-waste recycling capacity would increase to approximately 4,15,000 tonnes per annum, and the battery recycling capacity was expected to reach around 50,000 tonnes per annum within a year.

The company aimed to achieve revenue of over $2 billion, equivalent to about Rs 165 billion by 2027.

According to Gupta, the industry was growing at a rate of approximately 30 per cent per annum, whereas Attero was surpassing this with a growth rate exceeding 100 per cent year-on-year. He disclosed that the revenue for the financial year 2023 was approximately Rs 2.85 billion, which had increased to Rs 4.40 billion in FY24. He anticipated crossing the Rs 10 billion revenue mark in the current year. To reach the $2 billion target, he emphasised that only a few billions needed to be invested to enhance capacity.

Gupta asserted that every other Indian company produced an intermediate product that was subsequently refined either by Attero or by companies located outside India.

Nitin Gupta, the CEO and Co-Founder of Attero, revealed that the electronic waste and battery recycling company planned to invest approximately Rs 83 billion over the next five years to expand its capacity. He mentioned that currently, the company had the capability to recycle up to 1,44,000 tonne of electronic waste (e-waste) and 15,000 tonnes of lithium-ion battery annually. Gupta informed that in the forthcoming five years, they intended to invest roughly around $1 billion overall, incorporating various forms of capital such as debt, equity, and other non-diluted forms of capital. He elaborated that the company was experiencing a growth rate of 100 per cent year-on-year and was progressively enhancing its capacity. Gupta stated that a greenfield facility was under construction in Europe, specifically in Poland, where work had already commenced. Additionally, another greenfield facility was being established in India, with the space being finalized in Andhra Pradesh or Jharkhand. The projected e-waste recycling capacity would increase to approximately 4,15,000 tonnes per annum, and the battery recycling capacity was expected to reach around 50,000 tonnes per annum within a year. The company aimed to achieve revenue of over $2 billion, equivalent to about Rs 165 billion by 2027. According to Gupta, the industry was growing at a rate of approximately 30 per cent per annum, whereas Attero was surpassing this with a growth rate exceeding 100 per cent year-on-year. He disclosed that the revenue for the financial year 2023 was approximately Rs 2.85 billion, which had increased to Rs 4.40 billion in FY24. He anticipated crossing the Rs 10 billion revenue mark in the current year. To reach the $2 billion target, he emphasised that only a few billions needed to be invested to enhance capacity. Gupta asserted that every other Indian company produced an intermediate product that was subsequently refined either by Attero or by companies located outside India.

Next Story
Infrastructure Urban

World-class sports complex in Tirupati soon

A new world-class sports complex will soon be developed in Tirupati, following a meeting between Animeni Ravi Naidu, Chairman of the Sports Authority of Andhra Pradesh (SAAP), G Narasimha Yadav, TDP Parliamentary President of Tirupati, and District Collector Dr. S Venkateswar. The new sports policy, recently approved by Chief Minister Nara Chandrababu Naidu, aims to elevate the standards of sports infrastructure in the region. During the meeting, the team discussed various components of the sports policy and highlighted plans to enhance Tirupati’s sports landscape. A key focus was the propo..

Next Story
Infrastructure Urban

Centre sets up five working groups to transform city management

The Union Ministry of Housing and Urban Affairs (MoHUA) has established five working groups to recommend reforms aimed at transforming urban governance across India. The groups will focus on areas such as political and administrative reforms, redefining the role of parastatals, rural-urban continuity, and enhancing local capacity building. These working groups will examine key issues like enhancing accountability among elected officials in project execution, the direct election of mayors, and the creation of participatory budgeting processes. The groups will submit their findings within three ..

Next Story
Infrastructure Transport

US Nagar highway to be realigned for Pantnagar airport expansion

A major highway realignment project has been announced in Udham Singh Nagar to facilitate the expansion of Pantnagar International Airport. The National Highway (NH) 109 will be relocated by 7 km behind the airport to accommodate the airport’s expansion plans. Vikas Mittal, Project Director at the National Highways Authority of India (NHAI), confirmed that a detailed project report (DPR) for the realignment is being prepared and will be submitted by December 22. The realigned stretch will curve near the Anandi Mata Temple, follow the railway line, and reconnect with the main highway near Sa..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000