Joint Ventures8 April 2026 at 06:00 am
Antony Waste Handling Cell Ltd Subsidiary Signs Agreements with JFE Engineering Corporation for ¥ 750 Million Investment in Two Waste-to-Energy Projects
AI Summary
Antony Waste Handling Cell Ltd announced the execution of agreements by its subsidiary, Antony Lara Enviro Solutions Private Limited, with JFE Engineering Corporation, Japan. The agreement is for an investment of over ¥ 750 Million in two Special Purpose Vehicles (SPVs), Kadapa Renew Energy Private Limited and Kurnool Renew Energy Private Limited, for setting up two Waste-to-Energy Projects in Andhra Pradesh. The investment will be made through a primary issuance of shares by the SPVs, resulting in JFE Engineering Corporation acquiring a minority equity stake of 25% in each of the SPVs. Upon completion of the transaction, the SPVs will cease to be wholly owned subsidiaries of Antony Lara.
Key Highlights
- Antony Waste Handling Cell Ltd subsidiary, Antony Lara Enviro Solutions Private Limited, enters into agreements with JFE Engineering Corporation, Japan
- Investment of over ¥ 750 Million in two Special Purpose Vehicles (SPVs) for setting up Waste-to-Energy Projects in Andhra Pradesh
- JFE Engineering Corporation to acquire a minority equity stake of 25% in each of the SPVs
- Investment to be made through a primary issuance of shares by the SPVs
- Upon completion of the transaction, the SPVs will cease to be wholly owned subsidiaries of Antony Lara