Faridabad, Jun 1
Electronic waste recycling company Namo eWaste Management Ltd has signed a memorandum of understanding with the Haryana government to establish a Rs 100 crore facility to produce rare earth metals from battery and electronic waste. The project, announced on Monday under the state’s Make in Haryana industrial policy framework, aims to strengthen domestic manufacturing capabilities in critical technology resources while supporting the country’s self-reliance goals.
The proposed plant will have an annual processing capacity of 25,000 metric tonnes of e-waste and battery waste. According to the company, the facility is expected to contribute around Rs 500 crore annually to its revenue once it becomes fully operational.
The agreement paves the way for the establishment of an advanced manufacturing unit focused on recovering and producing rare earth metals, which play a key role in sectors such as electric vehicles, renewable energy systems, electronics, and other technology-driven industries.
The MoU was signed in the presence of Haryana Chief Minister Nayab Singh Saini and senior government officials.
Speaking on the development, Akshay Jain said rare earth metals are central to modern technological advancement and that expanding domestic production capabilities would not only support the company’s future growth but also contribute to India’s vision of becoming self-reliant in critical resources.
Founded in 2014, Namo eWaste Management Ltd currently operates four certified recycling facilities across the country. The company has a combined annual processing capacity of more than 82,000 metric tonnes of electronic waste and serves businesses, government organizations, and institutional clients nationwide.
The new facility is expected to strengthen India’s e-waste recycling ecosystem while enhancing domestic supply of rare earth materials, which are increasingly important for emerging industries and clean energy technologies.
