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Cerebra Integrated Technologies plans to set up an e-waste recycling unit in collaboration with Singapore-based Cimelia Resource Recovery.

The unit will come on10-acre of land, bought from the Karnataka Government at a cost of Rs 7 crore. Cimelia will set up the entire plant along with the machinery and jointly manage the e-waste plant with Cerebra. Singapore-based Scenic Overseas & Leytron Technology will also assist in the installation process and provide equipment for the project. The project is expected to be commissioned by September 2011. The company plans to raise Rs 50 crore to fund the project. Funding details are still being worked out.

Cimelia and Scenic Overseas & Leytron Technology have been jointly issued 92 lakh equity shares, pending SEBI's approval. Cimelia is a subsidiary of Enviro-Hub Holdings a provider of environment restoration solutions for electronics, electrical and equipment industries.

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