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Private equity firm KKR & Co., a New York City-based investment management company, announced on Sunday that it will acquire 60% stake in the waste management and environmental solution provider Ramky Enviro Engineers Limited (REEL) for an astonishing amount of US$530 million (Rs. 3703 crores) making its evaluation to US$ 925 million or RS. 6400 crore.
This is the largest buyout made by any private equity company in the environmental service sector in India. Hyderabad based REEL’s environmental management services include collection, transportation, and processing of dangerous, biomedical, municipal and e-waste as well as recycling of plastic, paper, and chemicals.
The largest Waste-to-energy plant in the nation is operated by REEL in Delhi, which has an energy output capacity of 24 megawatts by utilizing 1.5 Tonnes of waste per day. Its waste into energy converting facilities is also located in cities of Rewa, Hyderabad, Nasik, Koyambedu.
Ramky Enviro also has the presence in around 60 locations across 20 Indian states as well as in parts of Southeast Asia, the Middle East, and African markets.
