Antony Waste Secures ¥750M Investment for Waste-to-Energy Projects
Filing Summary
Antony Waste Handling Cell Ltd has announced a strategic partnership with JFE Engineering Corporation, marking the first Japanese foreign direct investment in India’s Waste-to-Energy sector. JFE Engineering will invest approximately ¥750 million for a 25% equity stake in two Waste-to-Energy plants in Andhra Pradesh. The projects, located in Kadapa and Kurnool, are expected to generate a combined 30 MW of power. The construction is set to be completed in 24 months, with operations commencing in Q1 FY29. This partnership aligns with the India–Japan Joint Vision 2025, targeting significant Japanese investments in India.
Antony Waste Handling Cell Ltd has entered into a strategic partnership with Japan-based JFE Engineering Corporation for the development of two Waste-to-Energy (WTE) plants in Andhra Pradesh. This collaboration represents the first Japanese foreign direct investment in India’s Waste-to-Energy sector. JFE Engineering will acquire a 25% equity stake in the special purpose vehicles (SPVs) managing these projects, with Antony Waste retaining the remaining 75% stake.
The financial terms of the partnership include an investment of approximately ¥750 million by JFE Engineering. The projects are structured with a 75% debt and 25% equity financing model. The total projected revenue for both projects over a 20-year concession period is estimated at approximately ₹3,200 crores. The power purchase agreement (PPA) tariff is set at ₹8.10 per unit.
The operational scope involves the construction and management of two WTE plants in Kadapa and Kurnool, each with a capacity to process approximately 1,000 tonnes of municipal solid waste per day. Of this, 750 tonnes per day will be utilized as feedstock for power generation, with each plant expected to produce around 15 MW of electricity. JFE Engineering India will handle the engineering, procurement, and construction (EPC) of the plants, leveraging its global expertise in waste treatment facilities.
The timeline for the projects indicates a construction period of 24 months, with commissioning targeted for the first quarter of fiscal year 2029. This timeline aligns with the strategic goals of both companies to enhance sustainable infrastructure in India.
The partnership involves Antony Waste Handling Cell Ltd and JFE Engineering Corporation. Antony Waste will manage the majority stake and operational aspects, while JFE Engineering will contribute its technological expertise and handle the EPC responsibilities. This collaboration is part of a broader strategic initiative under the India–Japan Joint Vision 2025, which aims to channel significant Japanese investments into India’s priority sectors.
The market context for this partnership is significant, given India’s current waste management challenges. The country generates approximately 150,000 tonnes of municipal solid waste daily, with less than 5% of its estimated 5,600 MW Waste-to-Energy potential currently harnessed. This partnership is positioned to address this gap by deploying advanced technologies and sustainable solutions.
JFE Engineering Corporation is a part of JFE Holdings, a Fortune 500 industrial group. The company specializes in energy infrastructure, environmental systems, and recycling and renewable energy. With over 56 years of experience in Waste-to-Energy solutions, JFE Engineering has delivered more than 250 waste treatment facilities worldwide.
Antony Waste Handling Cell Ltd is a leading player in India’s municipal solid waste management industry, with over 25 years of experience. The company provides comprehensive waste management services, including collection, transportation, processing, and disposal. It is also a key player in landfill construction and management, focusing on emerging waste management areas such as Waste-to-Energy. The company operates the largest single-location waste processing plant in Asia, reinforcing its commitment to sustainable waste management solutions.