Averda enters Indian market with new strategy

The company expands into the growing market starting in Amritsar, it also marks Averda’s entry into South Asia.


Filed under
Waste Management
 
October 8 2020
 
Share this story
 
 

Get the latest news and market insights delivered to your inbox.

 

Malek Sukkar, CEO, Averda

Averda, the leading end-to-end waste management company in emerging markets, announced its entry into the burgeoning Indian waste management market, starting in Amritsar.

The company has completed a share sale and purchase of Amritsar MSW Limited, which holds a concession agreement issued by the Municipal Corporation of Amritsar, and undertakes various environmental services for waste management in Amritsar, including municipal solid waste management, waste to energy and recycling.

Averda has taken over management control of the concession and has started to develop a fully integrated waste management solution for the city, with the goal of improving sanitary conditions for residents and creating as much value from waste as possible, as per the press release. The company’s responsibilities include door-to-door waste collection, processing and treatment, and the creation of energy from waste, in accordance with recent Indian legislation. It is the first time that Amritsar will benefit from an end-to-end municipal solid waste management programme.

In addition, Averda is undertaking a major bioremediation and land reclamation project for the city’s existing dumpsite, an area of nearly 25 acres, with the active participation of the Municipal Corporation.  

“This is a big day for Averda. India is a key territory in our strategy for growth, which involves introducing modern energy-from-waste and circular economy waste management services to emerging countries which will benefit hugely from them, both environmentally and economically. We believe that a cleaner world can mean better lives and are enthused and excited about providing the best possible service to our new clients and to the citizens of Amritsar,” said Malek Sukkar, CEO, Averda.

Amritsar is one of the fastest growing cities in the Indian State of Punjab, with a bustling modern economy blended with a long and rich cultural, spiritual and political history. Over 100,000 visitors pass through the city every day, whilst the Sri Guru Ram Dass Jee International Airport connects the city both regionally and internationally.

The Indian demand for effective and sustainable waste management services is vast and growing, driven by a growing urban population (2% CAGR), rising per capita income (8.5% CAGR) and rising per capita consumption (8.3% CAGR) which is resulting in greater waste generation. At the same time the Government of India is driving through a major push for cleaner and more sustainable waste solutions. Under its flagship public policy initiative Swachh Bharat Abhiyan (‘Clean India Mission’), there is significant funding and regulation in support of generating resources from waste. These market drivers fit perfectly with the company’s strategy for India, said Averda.

A major component of Averda’s strategy is to increase waste segregation at source – essentially encouraging households and businesses to separate their waste into two bins which are then collected by vehicles equipped with two compartments. Widespread information and education campaigns are required to support this significant public behaviour change, which is being run in partnership with the local authorities and local NGOs and will include other messaging around cleanliness and hygiene.

Handover of vehicles and facilities took place a few weeks ago and Averda said it has been hard at work on the infrastructure and human resources required for a seamless transition.

 

Related Stories