KICL, UAE's Beeah Tandeef in pact to boost waste management biz

CHENNAI: Kothari Industrial Corporation Ltd (KICL) has signed a Memorandum of Understanding (MoU) with the UAE–based Beeah Tandeef International Investment Limited, Sharjah, to collaborate and form a consortium to explore and jointly undertake business opportunities in Tamil Nadu, in the fields of environmental conservation, waste management, waste-to-energy and related sectors.

Beeah Tandeef International Investment Limited is a subsidiary of the UAE-based Beeah Group, a sustainability and environmental services organisation. Operational across the UAE, KSA and Egypt, Tandeef serves cities such as Sharjah, Madinah City and Egypt’s new administrative capital. It also serves commercial clients such as Dubai Airports, the Emirates Group, Dubai World Trade Centre, Burj Khalifa, Jumeirah Lake Towers and TECOM Group’s 11 business communities.

The MoU was signed by Rafiq Ahmed, executive chairman and managing director, KICL, and Fahad Ali Shehail, CEO, Beeah Environment, UAE.

As per the MoU, KICL and Beeah Tandeef shall combine their respective expertise in technology, operations and marketing to deliver sustainable, innovative and efficient solutions in the waste management industry. Also, the MoU provides for their participation in tenders and public-private partnership opportunities particularly within Tamil Nadu including under Government of India’s 'Swachh Bharat' initiative and other potential regions in India.

Ahmed said, “This tie-up will further help us to reach a wider base of customers across countries, and provide holistic, enduring and sustainable solutions to environmental issues in the waste management industry.”

The agreement with the Sharjah-based company must be viewed in the context of a series of initiatives undertaken by the TN government to woo investments. It must also be read in the context of efforts made by the KICL new promoter Rafiq Ahmed to bring yester-year glory back to the company. Not long ago, a company belonging to the Royal family of Qatar picked up around 10 per cent stake in KICL.