Enviri Corporation’s Harsco Environmental division has signed a 10‑year agreement with Lloyds Metals and Energy Limited (LMEL), a leading Indian steel and mining company. The contract will see Harsco Environmental design, build, commission, operate and maintain a metal‑recovery plant and associated slag‑processing facilities at LMEL’s integrated steel plant in Maharashtra, with operations slated to begin in 2027.
The deal is expected to create 54 new jobs in the region and adds a long‑term, high‑volume customer to Enviri’s portfolio. It aligns with Enviri’s strategy to focus on high‑margin environmental solutions and to potentially divest its rail segment, positioning the company for a more specialized business model.
Enviri’s recent financial performance underscores the significance of the contract. In Q4 2024 the company generated $559 million in revenue and $70 million in Adjusted EBITDA; Q3 2024 revenue was $574 million with $85 million in Adjusted EBITDA, and Q2 2024 revenue was $610 million with $86 million in Adjusted EBITDA. The new contract will provide a predictable revenue stream that complements Enviri’s existing growth trajectory.
LMEL operates India’s largest iron‑ore mine and is expanding its direct‑reduced iron (DRI) production. The integrated steel plant in Maharashtra is part of LMEL’s broader sustainability agenda, aiming to enhance resource efficiency and reduce environmental impact. The partnership with Harsco Environmental supports these goals by leveraging advanced metal‑recovery technology.
Christophe Reitemeier, President of Harsco Environmental, said, “This new agreement with LMEL underscores our shared commitment to sustainability while meeting the needs of a growing industry. As we continue to expand our footprint in India, we’re helping our customers meet their environmental goals.” Madhur Gupta, Executive Director of LMEL, added, “By leveraging Harsco Environmental’s expertise in metal recovery and slag processing, we aim to enhance resource efficiency and reduce environmental impact. This collaboration aligns with our ambition to establish our integrated steel plant, centered around sustainability and innovative practices within the sector.”
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