Ramky Enviro Engineers Limited along with Chinese firm Chongqing Sanfeng Environmental Industry Group plans to address the waste to energy project market in India through a joint venture.
"Hitherto, the Chinese company was an equipment supplier and an EPC contractor for some of the projects Ramky is currently executing. We are now set to expanding this engagement through a joint venture company to take up more projects together," M. Gautham Reddy, Director of the Rs 6,500-crore Ramky Group, said.
Speaking to Business Line, Gautham Reddy said this venture is aimed at expanding the scope of the work to be handled together. A memorandum of understanding was signed with the Chinese company and the efforts will be to make use of each others expertise in waste to energy projects.
The joint venture will be formed within two months. Already the venture partners have build, operate and transfer waste to energy projects in Mumbai Metropolitan Development Authority, Hyderabad, New Delhi and Chennai worth about $ 300 million (about Rs 1,650 crore). This includes a 24 mw project in Delhi worth about $ 60 million (about Rs 330 crore).
The metropolitan areas generate huge waste and its disposal is a big challenge. Projects that help waste disposal and also enable in power generation is the way to go forward. Most of the major cities in the country are looking at setting up waste to energy projects, he said.
"Sanfeng brings latest technology and equipment for waste to energy project both as a supplier and EPC contractor. Our expertise in the local market and ongoing projects will offer us immense scope to tap into this new emerging area of business," he added.