Antony Waste Secures ¥750 Million Deal With JFE Engineering

In a significant boost to India’s sustainable infrastructure landscape, Antony Waste Handling Cell Limited has announced a strategic partnership with Japan-based JFE Engineering Corporation for the development of two Waste-to-Energy (WTE) plants in Andhra Pradesh. The deal marks the first Japanese foreign direct investment into India’s Waste-to-Energy sector and signals growing global confidence in the country’s waste management potential.

As part of the agreement, JFE Engineering will invest approximately ¥750 million to acquire a 25 percent equity stake in Antony Waste’s special purpose vehicles set up for the projects, while Antony Waste will retain a 75 percent stake. The investment is specifically directed towards the WTE projects being developed in Kadapa and Kurnool, reinforcing a project-level partnership model designed for long-term execution and value creation.

JFE Engineering India will take on the role of Engineering, Procurement and Construction contractor for both plants, leveraging the group’s experience of delivering over 250 Waste-to-Energy facilities globally. The collaboration will bring advanced technologies, digital monitoring systems and global environmental standards to the projects, alongside support for operations and capability building.

Each of the two plants will process approximately 1,000 tonnes of municipal solid waste per day, with a Waste-to-Energy processing capacity of 750 tonnes per day per plant. Together, the facilities are expected to generate around 30 MW of power, with each plant contributing close to 15 MW. The projects will operate under a 20-year concession period, with a power purchase agreement tariff set at ₹8.10 per unit, and are projected to generate total revenues of approximately ₹3,200 crore. The financing structure will comprise 75 percent debt and 25 percent equity, with construction expected to be completed within 24 months and commissioning targeted for the first quarter of FY2028-29.

Commenting on the partnership, Jose Jacob, Chairman and Managing Director of Antony Waste, described the investment as a defining moment for India’s Waste-to-Energy sector, highlighting that it validates the company’s execution capabilities, governance standards and long-term vision. He added that the collaboration brings together global technology leadership and local expertise to build scalable and environmentally responsible infrastructure.

Echoing this sentiment, Akira Usui of JFE Engineering noted that the investment reflects the company’s strong belief in India’s Waste-to-Energy opportunity and its confidence in Antony Waste as a partner, marking its long-term commitment to supporting sustainable infrastructure development in the country.

The partnership also aligns with the broader India–Japan Joint Vision 2025, which aims to facilitate ¥10 trillion of Japanese investment into India’s priority sectors. At a time when India generates over 62 million tonnes of municipal solid waste annually and nearly 150,000 tonnes daily, the need for scalable waste-to-energy solutions has become increasingly urgent. Despite an estimated potential of around 5,600 MW in Waste-to-Energy capacity, less than 5 percent has been harnessed so far.

With projections estimating India’s Waste-to-Energy potential to reach 1,075 MW by 2031 and 2,780 MW by 2050, initiatives such as this partnership underscore the growing importance of public-private collaboration in addressing the country’s waste management challenges while advancing its clean energy goals.

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