Weensure, a venture for disposal of IT waste in India is being set up by A2Z Group, which has with interests in clean technology, energy and infrastructure management, and Dataserv Group, an organization specializing in recycling of e-Waste.
A2Z Group has also unveiled its plans of setting up a state-of-the-art plant and facility at Sohna in Gurgaon, with an initial investment of Rs. 20 crores. The plant is equipped to handle e-waste up to 10,000 tons per annum.
“With the growth in the IT sector in India, responsible and secure disposal of IT assets has been a cause for concern for a long time. Currently, only 5 percent of the e-waste generated in India is recycled, and this is way below the global standards,” said Amit Sardana, Managing Director, A2Z Dataserv Limited, said,
Globally, the e-waste volume is growing rapidly, up to 2-3 times faster than any other waste stream. The global usage of consumer electronics is increasing at the rate of more than 6 percent annually. The worldwide market for e-waste materials is expected to increase to nearly $116 billion in 2014 at a 5 year compound annual growth rate (CAGR) of 8.9 percent.