Ramky International (Singapore) Private Ltd, a wholly-owned subsidiary of Ramky Enviro Engineers Ltd, has signed a memorandum of understanding (MoU) with CITENCO, State-owned environmental and sanitation company of Ho Chi Minh City (HCMC), Vietnam to work together on a waste management project.
CITENCO and Ramky will jointly own and develop the Project-Sludge Treatment Facility on build-own- operate (BOO) structure and execute the project for Ho Chi Minh City.
An MoU to that effect was signed by Mr Huynh Minh Nhut, Executive Director, CITENCO and Mr M. Goutham Reddy, Managing Director, Ramky Group of Companies.
In a statement, Mr Goutham Reddy said the waste management problems of Ho Chi Minh City were similar to that of most Indian cities owing to similar economic and environmental conditions. “This relationship will enable to provide solutions to the waste management requirements of the city,” he said.
MAY BE WORTH $100 M
“Initially a feasibility study will be taken up and later a joint venture formed. This project could be worth about $100 million,” Mr Reddy told Business Line.
Ramky intends to focus in Ho Chi Minh City, Vietnam, on various waste management projects covering the sectors of industrial, hazardous, municipal and healthcare besides a sludge treatment facility.
Ramky Enviro Engineers Ltd is part of the Rs 6,000-crore Ramky Group of Companies, and is amongst leading providers of comprehensive environment management services.
The Department of Environment is keen to work on various other environment projects in Vietnam, Mr Dao Anh Kiet, of Department of Natural Resources and Environment, said.