"Urban solid waste should be reduced, recycled and reused by converting waste into energy and fertilisers as it offers immense opportunities of converting trash into cash," Naidu said here at the "Waste to Energy" conference organised by Assocham.
Seeking support of the corporate bodies, he said "they should take up various urban projects like converting waste to energy under public-private partnership (PPP) and corporate social responsibility (CSR)."
Elaborating on the opportunities in the solid waste management industry, he said, "The current state of municipal solid waste reflects huge potential for additional waste collection and treatment. If treated properly there is potential for generation of 440 MW of power through solid waste by setting up waste to energy plants," he said.
Naidu said rapid urbanisation and industrialisation in India has led to the migration of people from villages to cities, which generate thousands of tons of municipal solid waste daily.
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"The biodegradable waste constituting 47 per cent of waste generation can be used to produce compost. Switching over to compost can reduce consumption of chemical fertlisers by 30 per cent," he added.
UD Ministry is in process of empanelling the list of companies that can provide solid waste processing solution to the urban local bodies and the process is expected to be over in next three months.