Antony Waste Secures ¥750 Mn Investment from JFE Engineering

JFE Engineering will invest ¥750 million for a 25% stake in project SPVs, while Antony Waste retains 75% ownership and control.

By Entrepreneur Staff | Apr 10, 2026

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Antony Waste Handling Cell Limited has announced a strategic partnership with Japan-based JFE Engineering Corporation to develop two waste-to-energy (WTE) plants in Andhra Pradesh, marking the first Japanese foreign direct investment (FDI) in India’s WTE sector.

As part of the agreement, JFE Engineering will invest approximately ¥750 million to acquire a 25% stake in the special purpose vehicles (SPVs) set up for the Kadapa and Kurnool projects.

Antony Waste will retain the remaining 75% ownership. JFE Engineering India will also serve as the engineering, procurement and construction (EPC) contractor for both plants.

The partnership focuses on project-level collaboration, with the investment directed specifically into the SPVs responsible for executing the two facilities. The move is aligned with broader India–Japan cooperation in sustainable infrastructure under the Joint Vision 2025 framework, which aims to increase Japanese investment in India’s priority sectors.

Each plant is expected to process around 750 tonnes of municipal solid waste daily, with an inflow capacity of about 1,000 tonnes per day. Together, the projects are projected to generate nearly 30 MW of power. The concession period is set at 20 years, with a power purchase tariff of INR 8.10 per unit and total estimated project revenue of around INR 3,200 crore.

Construction is expected to be completed within 24 months, with commissioning targeted for the first quarter of FY2028–29.

The projects are expected to contribute to improved waste processing capacity while generating electricity from municipal waste, supporting urban infrastructure development in the region.

JFE Engineering brings experience from more than 250 WTE facilities worldwide and will deploy advanced technologies and monitoring systems for the projects.

Antony Waste, which has over two decades of experience in municipal solid waste management and works with multiple urban local bodies, will oversee project development and operations.

As part of the agreement, JFE Engineering will invest approximately ¥750 million to acquire a 25% stake in the special purpose vehicles (SPVs) set up for the Kadapa and Kurnool projects.

Antony Waste will retain the remaining 75% ownership. JFE Engineering India will also serve as the engineering, procurement and construction (EPC) contractor for both plants.