Antony Waste Handling Cell Ltd receives Waste Processing contract for Rs. 23.75 crore

Antony Waste Handling Cell Ltd., leading player in the Indian MSW service industry, today announced that consortium of its subsidiaries, Antony Lara Enviro Solutions Private Limited and AG enviro Infra Projects Private Limited has received a Letter of Authorization (LOA) for the work of "Remediation of Temporary Dumpsite Near Lakhnavali Village at Greater Noida through effective Bio-mining and Mechanized means with complete reclamation of the dumpsite land" from the Greater Noida Industrial Development Authority with a total project value of approximately Rs. 23.75 crore.

Bio-remediation is a process whereby the land on which old garbage is dumped is reclaimed by bio-mining process/mechanical means. Thereafter using the Material Recovery Facility, the waste is segregated and the resultant RDF (refuse derived fuel}, inert, soil etc., will be disposed-off. The scope of this project involves reclaiming the entire dumping area through the said mechanical process within a period of 24 months. The project value is approximately Rs. 23.75 crore and this is based on 2019 survey of legacy waste quantity. The actual quantity is expected to be higher, resulting in value and period of contract increasing proportionately. The capex to be incurred for the project is towards Material Recovery Facility which can be used for future projects as well.

Commenting on the project award Mr. Jose Jacob, Chairman and Managing Director, Antony Waste Handling Cell Ltd. said, "This project marks our entry into standalone bio-mining projects. We see a huge scope for Bio-mining projects as municipal corporations across Metros, Tier 1 and Tier 2 cities need to clear and process the legacy waste to make way for new waste processing at these sites. As municipal corporations across India start bidding out these projects, it presents a huge growth opportunity for an experienced Municipal Solid Waste processing player like us with a proven track record of scientific waste processing."

Source : Equity Bulls

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