NewsCorporate ActionsJain Resource Recycling Forms Strategic Joint Venture with C&Y Group for Recycling Facility in AhmedabadJain Resource Recycling Forms Strategic Joint Venture with C&Y Group for Recycling Facility in Ahmedabad
Jain Resource Recycling Limited has entered into a joint venture agreement with C&Y Group Investments, Inc. to establish a recycling and manufacturing facility in Ahmedabad, Gujarat. The venture will focus on recycling cables, motors, and various metal components. Jain Resource will hold 52% stake, C&Y Group 45%, and employees 3% as sweat equity. The initial paid-up capital is set at INR 100 million, with potential to increase to INR 600 million. C&Y Group, a major North American scrap metal exporter, will supply guaranteed annual quantities of scrap materials. The joint venture will be incorporated as a private limited company in India, becoming a subsidiary of Jain Resource Recycling.
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Jain Resource Recycling Limited has announced a significant move in the recycling industry by entering into a joint venture agreement with C&Y Group Investments, Inc. The partnership, formalized on October 22, 2025, aims to establish and operate a recycling and manufacturing facility in Ahmedabad, Gujarat.
Key Details of the Joint Venture
| Aspect | Details |
|---|---|
| Partners | Jain Resource Recycling Limited and C&Y Group Investments, Inc. |
| Location | Ahmedabad, Gujarat, India |
| Focus | Recycling of cables, motors, alternators, starters, motor coils, transformers, and copper scrap |
| Shareholding | Jain Resource: 52%, C&Y Group: 45%, Employees: 3% (as sweat equity) |
| Initial Paid-up Capital | INR 100.00 million |
| Potential Capital Increase | Up to INR 600.00 million based on funding requirements |
| Lock-in Period | 3 years from the financial year following commercial production commencement |
Strategic Implications
The joint venture marks a strategic expansion for Jain Resource Recycling, leveraging C&Y Group's global sourcing expertise. C&Y Group, recognized as one of the largest scrap metal exporters from North America, brings significant international experience to the partnership, including:
- Ten self-owned scrap yards in North America
- A recycling operation in Thailand
- A trading company in Japan
As part of the agreement, C&Y Group will supply the joint venture company with guaranteed annual quantities of various scrap materials at competitive prices, ensuring a stable and efficient supply chain.
Governance Structure
The joint venture company will be incorporated as a private limited company in India and will become a subsidiary of Jain Resource Recycling. The board of directors will consist of five members:
- Three directors appointed by Jain Resource Recycling
- Two directors nominated by C&Y Group Investments
- The Managing Director will be nominated by Jain Resource Recycling
Long-term Vision
This collaboration is expected to drive growth and sustainability in the recycling sector, aligning with both companies' commitment to environmental responsibility and industrial innovation. By expanding its footprint in the recycling industry and enhancing the value chain within India, Jain Resource Recycling aims to capitalize on the growing demand for sustainable resource management solutions.
The joint venture represents a significant step towards strengthening India's position in the global recycling market, potentially creating new job opportunities and contributing to the country's circular economy initiatives.
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