Fundraising: Biotechnology Hanjer Raises US $ 40 Million Funding from European DFIs for Biotechnology Projects
Support from Europe for biotechnical waste processing in India: Mumbai based Hanjer could raise US $ 40 million for projects in several Indian cities.
Mumbai/India – Hanjer Biotech Energies , a waste recycling and resource recovery company having a unique technology to process mix municipal solid waste , has been granted a loan facility of USD 40 million - USD 20 million each by DEG - Deutsche Investitions- und Entwicklungsgesellschaft (the German investment and development company) - as a part of total debt facility amount of IN R 2,908 million, which has been underwritten and solely arranged by YES Bank.
Under a tripartite agreement between Hanjer and the two European Development Finance Institutions, DEG and PROPARCO, the 8.5 year loan amount will be utilized towards setting up multiple MSW (Municipal Solid Waste) processing plants totalling 5,000 TPD (tonnes per day) capacity wherein Hanjer will implement international environmental and social standards. Currently, Hanjer has 24 operating facilities across 19 cities in India, with an existing capacity of 9,100 TPD. Another 2,200 TPD capacity expansion is under implementation plus additional 3,000 TPD, at the bidding stage.