Ramky Enviro Engineers Limited has sewn up plans to invest about ₹1,000 crore on expansion projects over the next two years, with big chunk of investments in the overseas business.
The Hyderabad-based leading environmental solutions provider has acquired 50 per cent stake in Nature Enviro Marine Services, a Texas-based marine Pollution management facility, and plans to enter newer overseas markets.
“The company, which closed last financial year with revenues of ₹1500 crore, expects to close this fiscal with a turnover of ₹1,800 crore and looking at doubling the revenue to over ₹3,500-3,600 crore in the next three years,” M Gautham Reddy, Managing Director of Ramky Enviro, said.
Of the ₹1,800 crore revenue, the overseas business would contribute ₹600 crore. In the expanded overseas business, the company is looking at its contribution going up to about ₹1,000 crore to ₹ 1,100 crore.
Reddy said the company expects to meet the proposed capital expenditure of ₹1,000 crore by way of debt and internal accruals.
Referring to the Hyderabad waste to energy project, Reddy said the ₹330 crore, 20 mega watt project is expected to be completed by March 2019. The work on the project, which has had to face several hurdles, has begun and be ready by next year.
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 the upcoming smart city projects.
Referring to some of the recent wins, the MD said the company has commenced works at Al-Batinah Municipal Solid Waste Management and Recycling Complex in Yanbu in Saudi Arabia, material recovery facility at JAFNA, Dubai, Commencement of construction of 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 the Middle East, he said.