The Haryana government has given the responsibility of operating the plant to a private company, Singh said yesterday.
The plant was shut four years ago as it was not capable of handling the amount of waste being generated by the two cities, sources said.
Compared to the 1,600 tons of waste generated from Gurgaon and Faridabad everyday, the plant had a capacity to handle just 600 tons a day.
"The total investment of this project is Rs 500 crore and the plant will have a capacity to dispose 2,500 tons of waste per day and also generate 25 MW of electricity every 24 hours," Chief Executive Officer (CEO) Eco Green Energy Limited Ankit Agrawal said.
The Environment and Forest minister claimed that this would be the first of its kind plant in India capable of disposing and segregating waste, and also generating electricity from it.
"The Bandhwari solid waste treatment plant will be operated by Eco Green Energy Limited. The plant has been given to the firm on a 20 years lease," Singh said.
"The company has state-of-the-art technology to dispose waste generated from Haryana's two major cities, Gurgaon and Faridabad. The company will invest its own money and earn profit by selling electricity generated from the plant," he said.
Besides, the plant will also produce fertilisers from the waste, Singh said.
The CEO said, "The company wants to install four-in-one equipment (capable of disposing, segregating waste, and producing electricity and fertilisers) at the plant."
Reportedly, people from villages near the dump yard had complained of soil contamination after the shutting of the waste disposal plant.