Antony Waste Handling Cell Ltd receives C&T contract from Jhansi Smart City Limited worth Rs. 21 Crore per annum

Antony Waste Handling Cell Ltd., leading player in the Indian MSW service industry, today announced that its material subsidiary, AG Enviro Infra Projects Private Limited has received a Letter of Intent for door to door Collection and Transportation (C&T) of Solid Waste in the City of Jhansi under Smart City Mission. The contract is awarded by Jhansi Smart City Limited for the period of 5 years further extendable up to 2 more years upon mutual agreement. The contract is for Collection and Transportation of Solid Waste from waste collections points like 1,10,000 households, 8000 commercial shops/establishment (non-food shops), 2000 commercial shops/establishment (food shops) and 150 bulk waste generators. During the period of the contract the volume of waste collected is expected to go up in line with increase in number of waste collection points. As per the terms of the tender the entire infrastructure proposed to be procured for the said project shall be procured by Jhansi Nagar Nigam and shall be handed over to us for operations. Thus the entire capital cost for infrastructure shall be borne by Jhansi Nagar Nigam. We shall be soon signing the contract agreement with Jhansi Nagar Nigam in order to execute the project and implementation period is 4 months from the date of signing of contract agreement.

Commenting on the contract award Mr. Jose Jacob, Chairman and Managing Director, Antony Waste Handling Cell Ltd. said, "The contract award highlights importance of modernizing the Collection and Transportation of Solid Waste Management in this new era under the Smart City Mission. The project has strong financial metrics and will improve profitability and return ratios without any major capital investments. With Swachh Bharat Mission and Smart City Mission gaining prominence, these contract awards are a testimony of strong future growth prospects for a technology driven MSW service player like us."

Shares of Antony Waste Handling Cell Ltd. was last trading in BSE at Rs. 313.95 as compared to the previous close of Rs. 300.55. The total number of shares traded during the day was 0.44 lakh shares at an average price of Rs. 310.65.

The stock hit an intraday high of Rs. 318.55 and intraday low of Rs. 299.20.

Source : Equity Bulls

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