Antony Waste partners JFE Engineering for 2 WTE plants with ₹470 Cr JFE investment
Antony Waste Handling Cell Limited has partnered with JFE Engineering Corporation for two Waste-to-Energy plants in Andhra Pradesh. JFE Engineering will invest approximately ¥750 million (₹470 crore) for a 25% stake in the SPVs. The plants in Kadapa and Kurnool will process 1,000 TPD MSW each, generating 15 MW power per plant. Construction is expected within 24 months, with commissioning targeted for Q1 FY29.
This is a major foreign direct investment into India's Waste-to-Energy sector and a significant partnership for Antony Waste. It involves substantial investment, technology transfer, and the development of key infrastructure projects, which will have a high impact on the company's growth and market position.
The announcement details a significant strategic partnership and foreign direct investment into the company's Waste-to-Energy projects, indicating strong confidence and growth potential. The investment amount and the nature of the partnership are positive indicators.
Antony Waste Handling Cell Limited (AWHCL) has announced a strategic partnership with Japan-based JFE Engineering Corporation for two Waste-to-Energy (WTE) plants in Andhra Pradesh. This collaboration marks the first Japanese foreign direct investment (FDI) into India’s Waste-to-Energy sector and JFE Engineering Corporation's entry into India’s waste management market.
Under the agreement, JFE Engineering will invest approximately ¥750 million (approximately ₹470 crore) to acquire a 25% equity stake in AWHCL’s two special purpose vehicles (SPVs) that are developing the Kadapa and Kurnool Waste-to-Energy projects. AWHCL will retain the remaining 75% stake. JFE Engineering India will also undertake the Engineering, Procurement, and Construction (EPC) for both plants.
The projects in Kadapa and Kurnool will each have a capacity to process approximately 1,000 tonnes of Municipal Solid Waste (MSW) per day, with 750 tonnes per day being used as feedstock for power generation, producing around 15 MW of power per plant, totaling approximately 30 MW combined. The Power Purchase Agreement (PPA) tariff is set at ₹8.10 per unit. The total estimated project revenue over the 20-year concession period for both projects is approximately ₹3,200 crore.
Construction of both projects is expected to be completed within 24 months, with commercial operations targeted for Q1 FY29. This investment aligns with the broader India–Japan Joint Vision 2025, aiming for substantial Japanese investment in India’s priority sectors.
Jose Jacob, Chairman & Managing Director of Antony Waste Handling Cell Limited, stated, “This investment marks a defining moment for India’s Waste-to-Energy sector. It validates our execution capabilities, governance standards, and long-term vision.” Akira Usui, Director of Recycling Business Promotion Division at JFE Engineering Corporation, added, “This investment reflects our strong belief in India’s Waste-to-Energy opportunity and in Antony Waste as a trusted and capable partner.”
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Antony Waste Handling Cell Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Antony Waste Handling Cell Limited. Read the original for the full detail.