Mumbai, Feb. 26 -- In what is a major development on a global scale,Michelin has joined Antin and Enviro to announce the construction of first end of life tyre-recycling plant in Sweden.

The final investment decision for the construction of the used tyre recycling plant in cooperation with Antin and Enviro is expected to lead to the building of a series of plants in other locations across Europe as well.

With Antin a majority shareholder of the joint venture, Michelin is a minority shareholder. Enviro has an option to become a significant minority shareholder.

The construction of the Swedish facility already under way, all the necessary environmental and building permits and authorisations have been obtained. The facility is expected t...