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Adani completes Lanco’s INR 6,300-cr. Udupi power plant deal

LANCO Infratech (LITL) has successfully concluded sale of its 2,100-MW Udupi power plant to Adani Power, making it the largest acquisition in the domestic thermal power space.

The transaction was announced in August 2014 as part of Lanco’s debt restructuring strategy but was held up on account of the various mandatory approvals needed.

LITL had set up 2 x 600 MW imported coal-based power projects in the Udupi District in Karnataka. It is the country’s first independent power project based on 100 per cent imported coal with a captive jetty of 4 million tonnes per annum, and an external coal handling system located at the New Mangalore Port. The facility can be expanded further as Lanco Infratech has signed an agreement with the Karnataka government for further expansion of the capacity by 1,320 MW.

Source : Exim News Service - HYDERABAD, May 4

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