Kolkata: In order to lessen dependency on lead import, Exide Industries Ltd has decided to enter the lead smelting and recycling business.

In a declaration, lead acid battery major said that it would enter the section through strategic coalitions with local smelters.

The company also told that the board of directors has given its authorization to get hold of a smelter at a cost of upto Rs 25 crore.

T.V. Ramanathan, Exide managing director said, “Such an acquisition as and when it materialises would be a significant step towards enhancing the amount of recycled lead and lead alloys used by the company. Hence, it would help to reduce our dependence on imports of high cost lead.”

“The company was at the forefront in collecting scrap batteries as required by the regulatory framework. The smelting will further help commitment to protect the environment,” Mr. Ramanathan added.