Ramky setting up Rs 330-cr waste-to-energy plant
Ramky Enviro Engineers Ltd, party of city-based Ramky Group and Asia’s biggest waste management, is setting up 20 MW waste-to-energy plant in Hyderabad, with an investment of Rs 330 crore.
Hyderabad: Ramky Enviro Engineers Ltd, party of city-based Ramky Group and Asia’s biggest waste management, is setting up 20 MW waste-to-energy plant in Hyderabad, with an investment of Rs 330 crore.
“The plant is currently under construction at Jawaharnagar. It will become operational by March 2019,” M Goutham Reddy, Managing Director and CEO, Ramky Enviro, told the media here on Wednesday.
The Hyderabad plant being established on BOT basis is second such facility for the company which already has one in New Delhi with 24 MW capacity. It plans to build more such plants at other locations.
On expansion, he said Ramky Enviro would invest Rs 1,000 in India and abroad over next two years. The company is expected to post 20 per cent growth in top line to about Rs 1,800 crore in the current financial year from Rs 1,550 crore in FY17. However, the waste management company is betting big on overseas revenues which will account for around Rs 600 crore, a third of its total revenues, this fiscal.
"We expect our overseas revenues to reach Rs 900-1,000 crore in two years by which time our top line should grow to about Rs 3,500 crore. Eventually, international business will contribute 50 per cent to our overall revenues in five years or so", Reddy maintained.
Recently, the company bagged seven waste management projects from the Middle East, Africa and Singapore, which are cumulatively valued at Rs 800 crore. These projects are expected to generate Rs 360 crore revenues annually.
Reddy said the company acquired 50 per cent stake in US-based Nems-Marpol, a marine pollution management facility, marking its foray into lucrative and growing environmental marine services.