Antony Waste Partners with JFE Engineering for First Japanese WtE Investment in India

Antony Waste Handling Cell Ltd, a Mumbai-based municipal solid waste management firm, has joined forces with Japan’s JFE Engineering Corporation to construct two waste-to-energy plants in Andhra Pradesh. This deal represents the first Japanese foreign direct investment in India’s WtE sector, with JFE committing ¥750 million (Rs 43 crore) for a 25% equity stake in project-specific special purpose vehicles. The partnership promises to channel advanced Japanese technology into India’s efforts to convert urban waste into power, addressing a critical gap in the country’s waste management infrastructure.

Deal Structure and Roles

Antony Waste retains 75% ownership in the SPVs formed for the Kadapa and Kurnool projects, while JFE Engineering India takes on the engineering, procurement, and construction responsibilities for both facilities. The arrangement emphasizes long-term execution, blending JFE’s global expertise with Antony’s local operations. Jose Jacob, chairman and managing director of Antony Waste, described the investment as validation of the company’s capabilities and a step toward scalable infrastructure.

Project Specifications and Timeline

Each plant will process 750 tonnes of municipal solid waste daily, with capacity to handle up to 1,000 tonnes, generating 15 MW of power for a combined 30 MW output. The facilities operate under a 20-year concession with a power purchase agreement tariff of ₹8.10 per unit, projecting total revenue of ₹3,200 crore financed through 75% debt and 25% equity. Construction starts soon, aiming for completion in 24 months and commissioning in the first quarter of FY2028–29.

Broader Implications for India-Japan Ties

Akira Usui, director of recycling business promotion at JFE Engineering, highlighted the firm’s confidence in India’s WtE potential and Antony’s track record, marking this as their initial foray into the country’s waste sector. JFE brings experience from over 250 global WtE facilities, including digital monitoring and high environmental standards, plus support for operations and training. The collaboration aligns with the India–Japan Joint Vision 2025 on sustainable infrastructure.

India’s Waste Management Challenge

India produces nearly 150,000 tonnes of municipal solid waste each day but taps less than 5% of its 5,600 MW WtE potential. Rising policy support and public-private partnerships signal momentum for growth in energy recovery from waste. These Andhra Pradesh plants could set a model for technology transfer and sector expansion amid urbanisation pressures.