Antony Waste Handling Cell Ltd's subsidiary receives LOI from NDMC for Sadar Paharganj Zone

Antony Waste Handling Cell Ltd., a leading player in the Indian MSW service industry, today announced that its wholly-owned subsidiary, AG Enviro Infra Projects Private Limited ("AG Enviro") has received a Letter of Intent for 'door-to-door Collection and Transportation (C&T) of Municipal Solid Waste to Disposal Site and Operation & Maintenance of Equipment / Machineries' from City - Sadar Paharganj Zone of North Delhi Municipal Corporation (NDMC). AG ENVIRO has been associated with NDMC for the last 16 years in the business of Municipal Solid Waste Management. This contract is for a period of ten years for the Collection and Transportation of ~ 1,000 TPD.

The contract has a dual revenue model in form of User Fee Collection along with C&T project revenue. The user fee collection will be shared between NDMC and AG Enviro in the ratio of 85:15 respectively. In the User Fee Collection revenue model, waste generators will be charged fees by the operator for door-to-door collection and transportation of solid waste from households, commercial shops / establishments, and bulk waste generators.

A portion of the CAPEX will be provided by NDMC and the balance will be funded by AG ENVIRO.

Commenting on the contract award Mr. Jose Jacob, Chairman and Managing Director, Antony Waste Handling Cell Ltd. said, "This contract reinforces our belief on the "User Fee Collection" model, which we believe represents a step forward in line with international best practices. The acceptance of the User Fee Collection model by waste generators provides the Municipal Corporation additional revenue source for funding MSW projects. With this contract award, we continue to follow our cluster-based approach, which enhances our efficiency. This contract win is a testimony of our operational excellence and our ability to retain clients. Our approach towards using the latest technologies and equipment to provide services distinguishes us. Post the second wave of COVID-19, municipalities have begun to float tenders for Solid Waste Management, and we can expect more contracts to be bagged in future."

Shares of Antony Waste Handling Cell Limited was last trading in BSE at Rs. 293.65 as compared to the previous close of Rs. 293.15. The total number of shares traded during the day was 7191 in over 540 trades.

The stock hit an intraday high of Rs. 297.20 and intraday low of 292.60. The net turnover during the day was Rs. 2121787.00.

Source : Equity Bulls

Keywords

AntonyWasteHandlingCell INE01BK01022 AWHCL MunicipalSolidWaste NDMC