Wisco received huge state subsidies for the implementation of the project to dispose of waste vehicles

Approximately 1.2 million US dollars was allocated by the Chinese government of one of the largest state steel companies in Wuhan Iron & Steel Corp (Wisco) for the implementation of a pilot project to utilize cars. Financial subsidies were obtained as part of the Government Program of the PRC to increase the share of renewable resources in secondary production. This was reported by the press service of Wisco.

The Ministry of Commerce of the PRC and the Ministry of Finance has begun to implement the company to increase the level of disposal of renewable resources in early 2011, since then Wisco has activated its efforts to process recyclables and today its capacities allow us to dispose of more than 10 thousand cars annually.

Being a leading company in China for the processing of secondary raw materials from cars, Wisco sees excellent prospects for the growth of its production. In the current year alone, the number of cars sold in Hubei province will exceed 1.5 million units, and about 120 thousand cars that have obsolete their age will enter the disposal.