Antony Waste Secures Japanese FDI of ~¥750 Million for Waste-to-Energy Projects in Andhra Pradesh
Antony Waste Handling Cell Limited announced a strategic partnership with Japan-based JFE Engineering Corporation for the development of two Waste-to-Energy (WTE) plants in Andhra Pradesh. This investment signifies the first Japanese foreign direct investment (FDI) into India's Waste-to-Energy (WTE) sector and marks JFE Engineering Corporation's entry into India's waste management market.As part of the agreement, JFE Engineering will invest approximately ¥750 million. This capital will be used to acquire a 25% equity stake in Antony Waste's two Waste-to-Energy special purpose vehicles (SPVs), with Antony Waste retaining the remaining 75% ownership. Furthermore, JFE Engineering India will manage the Engineering, Procurement, and Construction (EPC) for both WTE plants.
The investment is focused specifically on the SPVs developing the Kadapa and Kurnool Waste-to-Energy projects in Andhra Pradesh, establishing a project-level partnership structure aimed at long-term execution and value creation.
This investment is noted as a significant milestone in the India-Japan strategic partnership concerning sustainable infrastructure, aligning with the broader India-Japan Joint Vision 2025, which targets ¥10 trillion of Japanese investment into India's priority sectors.
Project and Financial Details
The partnership encompasses the development of WTE plants in Andhra Pradesh, specifically in Kadapa and Kurnool. The key operational and financial details are presented below:| Metric | Value (Per Plant) | Combined Value |
|---|---|---|
| Capacity | ~1,000 tonnes of MSW inflow per day | N/A |
| WtE Plant Capacity | 750 tonnes per day | N/A |
| Power Generation | ~15 MW per plant | ~30 MW |
| Concession Period | 20 years | N/A |
| Total Project Revenue | N/A | ~₹ 3,200 crores over 20 years |
| PPA Tariff | ₹ 8.10 per unit | N/A |
| Financing Structure | N/A | 75% debt / 25% equity |
Construction of both projects is anticipated to take approximately 24 months, with commissioning targeted for Q1 FY29.
Corporate Commentary
Jose Jacob, Chairman & Managing Director of Antony Waste Handling Cell Limited, stated that the investment validates the company's execution capabilities, governance standards, and long-term vision for India's Waste-to-Energy sector. He added that partnering with JFE Engineering allows the company to combine global technology leadership with deep local expertise to build scalable and environmentally responsible infrastructure, viewing it as a long-term commitment.Akira Usui, Director of Recycling Business Promotion Division, Environmental Solutions Sector, JFE Engineering Corporation, remarked that the investment reflects a strong belief in India's Waste-to-Energy opportunity and in Antony Waste as a capable partner. He highlighted that, as their first investment in India's waste sector, it underscores their commitment to bringing advanced technology and engineering excellence for sustainable infrastructure development.
JFE Engineering India will function as both the technology partner and EPC contractor, utilizing the JFE group's experience across more than 250 global waste treatment facilities. The company is expected to deploy advanced technologies, digital monitoring systems, and global environmental standards.
Antony Waste Handling Cell Limited is described as a leading player in the Indian Municipal Solid Waste Management industry with over 25 years of experience. The company has managed solid waste collection, transportation, processing, and disposal services across India and has pioneered MSW collection and transportation business domestically.
AWHCL Stock Price Movement
On Wednesday, Antony Waste Handling Cell Limited shares edged higher, settling at ₹446.2 after gaining 5.33%. The stock recorded a total traded volume of 446,244 shares, indicating active buying interest during the session.Source:
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