Ramky Enviro Engineers Ltd plans to invest about ₹1,000 crore in expansion projects over the next two years, a big chunk of it overseas.
“The company, which closed last financial year with revenues of ₹1,500 crore, expects to close this fiscal with a turnover of ₹1,800 crore and looking at doubling the revenue to ₹3,500-3,600 crore in three years,” said M Goutham Reddy, Managing Director of Ramky Enviro.
Of Ramky Enviro’s ₹1,800-crore revenue, the overseas business will contribute ₹600 crore.
Post overseas expansion, the contribution will go up to ₹1,100 crore.
The Hyderabad-based environmental solutions provider has acquired a 50 per cent stake in Nature Enviro Marine Services, a Texas-based marine pollution management facility, and plans to enter newer overseas markets.
Hyderabad project
Reddy said the company expects to meet the proposed capital expenditure of ₹1,000 crore by way of debt and internal accruals.
Reddy further said the the ₹330-crore, 20 MW Hyderabad waste-to-energy project is expected to be completed by March 2019. Following several hurdles, work has begun on the project.
Smart city plans
The company is managing one of the biggest waste-to-energy project of 24 MW in New Delhi and expects to replicate similar ones in upcoming smart cities.
Referring to some of the recent wins, Reddy said the company has commenced work at Al-Batinah Municipal Solid Waste Management and Recycling Complex at Yanbu in Saudi Arabia, material recovery facility at JAFNA, Dubai, and integrated hazardous and biomedical waste management facility in Abu Dhabi.
Several other major projects are being handled in Singapore for the Changi airport and in West Asia, he said.
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