Friday April 19, 2019
Home India After Demonet...

After Demonetisation, Scrapped Indian Rs 500 and Rs 1,000 Currency Notes sail to Dubai to end up as Furniture

The firm started using the pulp of the invalid notes as one of the raw materials that are mixed with wood pulp for making hardboard and fibreboard

0
//
currency
Indian currency notes. Pixabay

Dubai, Dec 13, 2016: After demonetisation, Indias invalid Rs 500 and Rs 1,000 currency notes are now on their way to Dubai and may end up in your living room as a piece of furniture or a photo frame, says a report in Gulf News.

About 30 to 40 percent of the hardboard and fibreboard products made by recycling the scrapped notes are being exported through Dubai, P.K. Mayan Mohammad, whose firm in Kerela was chosen by the Reserve Bank of India (RBI) to recycle the demonetised currency notes, told the Dubai-based newspaper.

NewsGram brings to you latest new stories in India.

“We are exporting the fibreboards to various countries in Europe, Africa and also to Australia,” the paper quoted Mohammad, who was in Dubai, as saying.

The locally imported boards are used for making furniture such as wardrobes, shelves, drawer bottoms, photo frames and mirror frame backing and for making partitions.

Explaining to the newspaper how it all started, Mohammad said the RBI’s regional office in Thiruvananthapuram inquired about his firm’s capability to recycle shredded currency notes a couple of weeks before the government made the demonetization announcement.

The RBI approached Mohammad on October 20. However, he said he had no idea a demonetisation move was afoot at that time.

Go to NewsGram and check out news related to political current issues.

“I thought they had decided to recycle the soiled notes instead of burning them. I, too, got to know about the demonetisation plan only when the Prime Minister (Narendra Modi) announced it,” he was quoted by Gulf News as saying.

The company made use of the thermomechanical pulping method. “We are the only facility with this technology (in India). It uses high electrical energy, steam pressure and temperature,” he said.

The firm started using the pulp of the invalid notes as one of the raw materials that are mixed with wood pulp for making hardboard and fibreboard.

Look for latest news from India in NewsGram.

Once that became a success, the RBI asked the company to lift more truckloads of shredded notes.

“We have been picking up almost 60 tonnes of shredded notes a week,” Mohammad told the paper. (IANS)

Next Story

World’s Largest e-Waste Recycling Plant Opens in Dubai

It has a processing capacity of 100,000 tonnes of total integrated waste per year, of which 39,000 tonnes is e-waste

0
dubai, recycling hub
The launch is a reflection of the United Arab Emirates' journey towards becoming a global platform that attracts innovative businesses and a successful model of the new green economy. Pixabay

The world’s largest e-waste recycling facility has opened in Dubai, a media report said.

Located at the Dubai Industrial Park, the 280,000 square feet plant will process Waste Electrical and Electronic Equipment (WEEE), IT asset disposition (ITAD), refrigerant gas and specialised waste, the Gulf News reported on Sunday night.

The facility will utilise state-of-the-art reclamation technology, which surpasses the European Union’s standards for e-waste. It has a processing capacity of 100,000 tonnes of total integrated waste per year, of which 39,000 tonnes is e-waste.

recycling hub, dubai
The world’s largest e-waste recycling facility has opened in Dubai, a media report said. Pixabay

The facility can process the entire range of WEEE from consumer and industrial to commercial and military. The 120 million dirhams ($5 million) project is backed by the Swiss Government Export Finance Agency.

ALSO READ: BSES Urges Consumers to Switch Off Electric Appliances During Earth Hour

Saud Abu Al Shawareb, Managing Director of the Dubai Industrial Park, said: “The launch is a reflection of the United Arab Emirates’ journey towards becoming a global platform that attracts innovative businesses and a successful model of the new green economy.” (IANS)