Joint Venture28 May 2025, 03:04 pm
JMG Corporation Ltd. and ARC Challenges Ltd. Enter Joint Development Agreement for MSW to Energy Project in Uttar Pradesh
AI Summary
JMG Corporation Limited and ARC Challenges Limited have entered into a Joint Development Agreement to jointly own, develop, finance, construct, operate, and maintain a Municipal Waste-to-Energy Project in the State of Uttar Pradesh. The Special Purpose Vehicle (SPV) will be incorporated with ARC Challenges Ltd. holding a 70% equity stake and JMG Corporation Ltd. holding a 30% equity stake, progressively changing to 75% and 25% respectively at the Financial closure. The key benefits of this agreement include sustainable waste management, clean energy generation, revenue from power sales, tipping fees, and carbon credits, environmental improvement, reduced landfill dependency, and local job creation.
Key Highlights
- Joint Development Agreement between JMG Corporation Ltd. and ARC Challenges Ltd.
- Special Purpose Vehicle (SPV) for Municipal Waste-to-Energy Project in Uttar Pradesh.
- ARC Challenges Ltd. to hold 70% equity stake and JMG Corporation Ltd. to hold 30% equity stake.
- Progressive change to 75% and 25% equity stake at Financial closure.
- Benefits include sustainable waste management, clean energy generation, revenue generation, environmental improvement, and local job creation.