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Antony Waste Handling Cell announced that its subsidiary, AG Enviro Infra Projects, has secured two major collection and transportation contracts. The stock gained 16% on the back of this news.
What is happening: the contracts were awarded by the BMC to a joint venture led by AG Enviro Infra Projects, which holds a 51% stake, with Jigar Transport (29%) and MK Enterprises (20%) as partners.
The venture will manage around 1,250 metric tons of municipal waste per day across key Mumbai wards.
The significance: Mumbai produces about 11,000-12,000 metric tons of waste every day, and much of it isn’t properly treated. The city’s main landfills viz. Deonar, Mulund, and Kanjurmarg are already at capacity.
A contract like this can help reduce the waste burden and support the city in improving its ranking in the Swachh Survekshan 2024-25 national sanitation survey.
ScanX.trade
