Page 23 - Plastics News February 2021

CompAny news

IndianOil and NDMC to Develop Private equity firm favourite to

Integrated Waste to Energy secure Nestlé water business
Facilities at Ranikhera in Narela

estlé S.A. announced that it has reached an
ndian Oil Corporation Limited (IndianOil) and North Delhi Nagreement to sell its regional spring water brands,
IMunicipal Corporation (NDMC) has signed a Memorandum purified water business and beverage delivery service
of Understanding (MOU) for development of integrated in the U.S. and Canada to One Rock Capital Partners
waste-to-energy facilities at NDMC's landfill site at in partnership with Metropoulos & Co. for USD 4.3
Ranikhera in Narela, New Delhi. The MoU was signed in billion. The Company's international premium brands
the presence of including Perrier®, S.Pellegrino® and Acqua Panna®
Shri Dharmendra are not a part of the deal. The transaction is expected
Pradhan, Union to close following the completion of customary closing
Minis ter o f conditions.The sale includes the following brands
in the U.S. and Canada, which had sales of around
Pe t role u m & CHF 3.4 billion in 2019: Poland Spring® Brand 100%
Natural Gas, Natural Spring Water, Deer Park® Brand 100% Natural
Shri Anil Baijal, Spring Water, Ozarka® Brand 100% Natural Spring
Lt. Governor of Water, Ice Mountain® Brand 100% Natural Spring
Delhi, Shri Jai Water, Zephyrhills® Brand 100% Natural Spring Water,
Prakash, Mayor, Arrowhead® Brand Mountain Spring Water, Pure Life®
No r th Delhi and Splash. It also comprises the U.S. direct-to-consumer
Municipal Corporation, Shri Tarun Kapoor, Secretary, and office beverage delivery service ReadyRefresh®.
Petroleum and Natural Gas, Shri Gyanesh Bharti, The agreement follows Nestlé's announcement last
Commissioner, North Delhi Municipal Corporation and year that it would conduct a strategic review of parts
Shri S M Vaidya, Chairman, Indian Oil. As part of the of the North American waters division and sharpen
MoU, IndianOil shall facilitate NDMC for identification of the focus of its global
a concessionaire for setting up of an Integrated Waste water portfolio.
to Energy Plant at Ranikhera in Narela. The plant would Commenting on the
process Municipal Solid Waste (MSW) and organic waste of transaction, Mark
NDMC for producing Compressed Biogas (CBG), recycling Schneider, Nestlé CEO,
plastics, Refuse Derived Fuel (RDF) for producing plastic said: "We continue to
or syngas and its downstream products. plastics recycling, transform our global
etc. Speaking on the occasion, Shri Pradhan said that waters business to
Commissioning of this landmark project will also help best position it for
in generating energy in various forms and in reducing long-term profitable
dependence on crude imports as well as in achieving other growth. This sale
national objectives. "The signing of this MoU is in line enables us to create
with Hon'ble Prime minister Shri Narendra Modi's vision of a more focused business around our international
carving a greener and energy-efficient future for India and premium brands, local natural mineral waters and high-
also towards achieving self-reliance in energy by adopting quality healthy hydration products. We will also boost
innovative green solutions." Appreciating IndianOil and our innovation and business development efforts to
North DMC for coming together for setting up the project, capture emerging consumer trends, such as functional
he called for a quick expansion and replication of such water." Nestlé reiterated its commitment to make its
pilot projects across India. Shri Dharmendra Pradhan said entire water portfolio carbon neutral by 2025. In 2020,
that such CBG Plants in the capital will not only solve the Nestlé announced renewed sustainability commitments
problem of solid waste in the national capital but also which build on existing efforts to enhance water
help in reducing the pollution and our oil dependence. stewardship and tackle plastic waste.

23 Februar y 2021 Plastics News