The Award was presented to JITF at the 2nd Annual Environment Awards night held in Mumbai, to commend its success in winning a 25-year-long concession from the New Delhi Municipal Corporation (NDMC) and Municipal Corporation of Delhi (MCD). This is to design, engineer, finance, construct, operate, and manage the Timarpur-Okhla Municipal Solid Waste Management project on a Build, Own, Operate, and Transfer (BOOT) basis.
Frost & Sullivan through its market study on the Indian Municipal Waste to Energy Market, identified JITF Urban Infrastructure Ltd. as an upcoming player in the fledgling municipal waste to energy market. India has explored only 10 percent of its potential to generate power from municipal solid waste. The average per capita waste generation in Indian cities ranged between 0.2 kg and 0.6 kg, while the overall municipal waste generation in India is about 48 million tons and anticipated to grow at a compound annual growth rate (CAGR) of 5 percent over the next two years.
Speaking on the occasion, Mr. Allard M. Nooy, CEO – JITF Ecopolis and JITF Aquasource said, "The award validates our mission to design, build and operate safe, reliable, sustainable and environmentally superior solutions. It also reinforces our commitment to offer sound solutions which help address some of today's most pressing challenges – diversifying the energy supply, protecting the environment and addressing climate change. We believe that the environmental benefits of Waste to Energy, as an alternative to disposing of waste in landfills are clear and compelling: this technologically advanced technology reduces greenhouse ("GHG") emissions, lowers the risk of groundwater contamination associated with landfills, and conserves valuable land. At the same time, Waste to Energy generates clean, reliable energy from a renewable fuel source, thus reducing dependence on fossil fuels, the combustion of which is itself a major contributor to GHG emissions."
Mr. Y. S. Shashidhar, Managing Director, Middle East and North Africa, Frost & Sullivan said, "Waste to energy contributes to only 1 percent of the overall electricity generation in India. The Indian market is endowed with growth drivers such as growing energy needs, humongous volumes of solid waste, space crunch for land filling, and carbon emission reduction credits that would enable the solid waste to energy market to grow at a CAGR of 9-12 percent in the next three years. Incentives and subsidies to bring down the high initial investment, promotion of Public Private Partnerships (PPPs), selection of appropriate technology to suit Indian conditions and curtail emissions of toxic gases, and issues related to tipping fees and royalties have to be ironed out to boost market growth. JITF's success in bagging India's largest waste to energy project, against a slew of reputed competitors, suggests its level of preparedness in providing optimal and sustainable solid waste management solutions."
About Frost & Sullivan
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About JITF Urban Infrastructure Ltd
The infrastructure arm of Jindal SAW Ltd., Jindal ITF is a part of the US$ 12 billion O.P. Jindal Group (4th largest business house in India) with established leadership positions in steel, mining, power, energy, infrastructure, water, wastewater, solid waste management and waste to energy. Jindal ITF continues to add economic and social value to the economy and is making rapid strides with its ventures in portable water, wastewater, industrial water management services, waterborne transportation, Municipal Solid Waste to energy management and rail infrastructure - laying a strong foundation for a secure and sustainable future
Jindal ITF is a driving impetus behind development of sustainable infrastructure that matches global standards. Venturing into new areas of business in various sectors, Jindal ITF is making rapid progress in sectors as diverse as Water, Wastewater and Solid Waste Management, Domestic Transport & Logistic, and Transportation Equipment Fabrication.
The business interests of Jindal ITF span across a gamut of infrastructure, transport and fabrication solutions addressing the varied needs of the Indian economy.
JITF Aquasource provides Total Water Solutions and is committed towards innovative processes for optimization of Water and Wastewater Management.
JITF Ecopolis was set up with the key objective of addressing the urban waste management problem. JITF Ecopolis is all set to commission India's first commercial Waste-to-Energy plant in New Delhi and will be the largest-of-its-kind operational in Asia.
In a short span of two years of operations, JITF Ecopolis has been recognized for its efforts and won accolades. It is the proud recipient of the 'Frost & Sullivan Indian Environment Industry Excellence Award 2010'.
JITF Vector is setting new standards in cargo transportation along the Indian coastline and inland waterways. With a fleet of eight vessels, including five Container Ships, options from Short Sea Shipping Containers to Break Bulk Ships… and an assurance of reliability.
JITF Shipyards: With the development of the India Maritime Technology Park in Gujarat as the state's first maritime industry cluster, JITF Shipyards is moving swiftly towards new frontiers.
Jindal Rail Infrastructure at its 120 acre Vadodara site is manufacturing wagons using aluminum and steel that weighs less, and create greater space inside. This intelligent use of resources will result in carrying additional resources of nearly 240 tonnes.
Media Contact: JITF Urban Infrastructure Ltd.
Abha Negi, Sr. General Manager
Group Corporate Communications
Jindal SAW Ltd
M: +91 98117 07968 / E: abha.negi[.]jindalsaw.com.