India’s invalid notes sail to Dubai
The shredded Indian rupees.
India’s invalid notes sail to Dubai
Fibreboard made with recycled bills exported via Jebel Ali port, sold to local manufacturers
Dubai: India’s invalid 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.
P.K. Mayan Mohammad, owner of a company that is currently recycling the demonetised currency notes of 500 and 1,000 denomination, can tell you how.
His firm, Western India Plywoods in Kannur district of the south Indian state of Kerala, was chosen by the Reserve Bank of India to recycle the demonetised notes that are being returned to the RBI as pieces of paper with no value.
According to Indian media, a whopping 22 billion currency notes of Rs500 and Rs1,000 denomination were in circulation in India as of March 31 and all these will have to be safely disposed of after the ban.
Speaking to Gulf News during his Dubai trip this week, Mohammad said 30 to 40 per cent of the hardboard and fibreboard products made by recycling the scrapped bills are being exported through Dubai.
“We are exporting the fibreboards to various countries in Europe, Africa and also to Australia. Products to Egypt and African countries like Ethiopia, Somalia, Djibouti, Kenya and Tanzania are re-exported via Dubai’s Jebel Ali port.”
At least 25 containers a month are estimated to be exported via Dubai. Some 10 per cent of these export quality products are bought by local furniture manufacturing units as well.
Mohammed said the market for the recycled products in Dubai was developed by M.K. Riaz, managing director of Percept Trading Company in Sharjah.
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.
“You never know if it will end up in your living room or not,” Mohammad said, laughing.
Explaining how it all started, he said RBI’s regional office in Thiruvananthapuram had inquired about his firm’s capability to recycle currency notes a couple of weeks before the government made the announcement of the demonetisation of the two denominations.
According to Mohammad, the RBI had approached him on October 20. However, he said he had no inkling of a demonetisation move at that time. “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 announced it.”
In fact, he said, his factory had started the trials in recycling currency notes even before they were declared defunct. “One or two truckloads came before the announcement of demonetisation. But the initial trials using normal recycling methods were a failure as we were not able to pulp the shredded notes properly.”
Then 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.”
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.
Once that became a success, RBI asked the company to lift more truckloads of shredded notes, within a week.
“Since last month, RBI has been selling briquettes of banned notes that are shredded for a charge of Rs250 (Dh13.58) per metric tonne. We have been picking up almost 60 tonnes of shredded notes a week,” said Mohammad.
Comments on this Article | |
Jossey Saldanha, Mumbai | Tue, December-13-2016, 6:08 |
Make in India is also Bull$hit ... Agree[3]
|
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on kemmannu.com to provide the IP address and other details of senders of such comments, to the authority concerned upon request. Hence, sending offensive comments using kemmannu.com will be purely at your own risk, and in no way will Kemmannu.com be held responsible.
Similarly, Kemmannu.com reserves the right to edit / block / delete the messages without notice any content received from readers.
Rozaricho Gaanch April, 2024 - Ester issue
Final Journey Of Theresa D’Souza (79 years) | LIVE From Kemmannu | Udupi |
Invest Smart and Earn Big!
Creating a World of Peaceful Stay!
For the Future Perfect Life that you Deserve! Contact : Rohan Corporation, Mangalore.
Final Journey Of Joe Victor Lewis (46 years) | LIVE From Kemmannu | Organ Donor | Udupi |
Milagres Cathedral, Kallianpur, Udupi - Parish Bulletin - Feb 2024 Issue
Easter Vigil 2024 | Holy Saturday | St. Theresa’s Church, Kemmannu, Udupi | LIVE
Way Of Cross on Good Friday 2024 | Live From | St. Theresa’s Church, Kemmannu, Udupi | LIVE
Good Friday 2024 | St. Theresa’s Church, Kemmannu | LIVE | Udupi
2 BHK Flat for sale on the 6th floor of Eden Heritage, Santhekatte, Kallianpur, Udupi
Maundy Thursday 2024 | LIVE From St. Theresa’s Church, Kemmannu | Udupi |
Kemmennu for sale 1 BHK 628 sqft, Air Conditioned flat
Symphony98 Releases Soul-Stirring Rendition of Lenten Hymn "Khursa Thain"
Palm Sunday 2024 at St. Theresa’s Church, Kemmannu | LIVE
Final Journey of Patrick Oliveira (83 years) || LIVE From Kemmannu
Carmel School Science Exhibition Day || Kmmannu Channel
Final Journey of Prakash Crasta | LIVE From Kemmannu || Kemmannu Channel
ಪ್ರಗತಿ ಮಹಿಳಾ ಮಹಾ ಸಂಘ | ಸ್ತ್ರೀಯಾಂಚ್ಯಾ ದಿಸಾಚೊ ಸಂಭ್ರಮ್ 2024 || ಸಾಸ್ತಾನ್ ಘಟಕ್
Valentine’s Day Special❤️||Multi-lingual Covers || Symphony98 From Kemmannu
Rozaricho Gaanch December 2023 issue, Mount Rosary Church Santhekatte Kallianpur, Udupi
An Ernest Appeal From Milagres Cathedral, Kallianpur, Diocese of Udupi
Diocese of Udupi - Uzvd Decennial Special Issue
Final Journey Of Canute Pinto (52 years) | LIVE From Mount Rosary Church | Kallianpura | Udupi
Earth Angels Anniversary | Comedy Show 2024 | Live From St. Theresa’s Church | Kemmannu | Udupi
Confraternity Sunday | St. Theresa’s Church, Kemmannu
Kemmannu Cricket Match 2024 | LIVE from Kemmannu
Naturya - Taste of Namma Udupi - Order NOW
New Management takes over Bannur Mutton, Santhekatte, Kallianpur. Visit us and feel the difference.
Focus Studio, Near Hotel Kidiyoor, Udupi
Earth Angels - Kemmannu Since 2023
Kemmannu Channel - Ktv Live Stream - To Book - Contact Here
Click here for Kemmannu Knn Facebook Link