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Hanjer Biotech Energies, a waste recycling and resource recovery company, has received $40 million from German investment and development company, Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG) and Proparco, the subsidiary of the French Development Agency.
The loan has been underwritten by Yes Bank. As per the company release, the fund will be utilised to set up multiple municipal solid waste processing plants of 5,000 tonnes per day (tpd). Currently, Hanjer has 24 operating facilities with a capacity of 9,100tpd in 19 cities. The company has 2,200tpd under implementation and another 3,000tpd at the bidding stage.
