Lanco to invest Rs 35,000 cr to up power generation capacity
Lanco Infratech, the construction and energy conglomerate, has announced its plan to invest Rs 35,000 crore to raise its power generation capacity to 15,000 MW by 2015 from the current 3,300 MW.business Updated: Jun 15, 2011 22:04 IST
Lanco Infratech, the construction and energy conglomerate, has announced its plan to invest Rs 35,000 crore to raise its power generation capacity to 15,000 MW by 2015 from the current 3,300 MW.
“From the total of 15,000 MW, about 9,300 MW projects are already under operation and under advance stages of construction. And for the remaining 6,000 MW work would also commence in the next 3-4 months as the funds would be tied up by that time,” said L Madhusudan Rao, executive chairman, Lanco Infratech while unveiling the group’s new logo.
A total of Rs 35,000 crore will be required to finance 6,200 MW of capacity and four-fifths of it would be raised through debt and the balance from internal accruals, Rao said.
Rao said that the company is well poised for growth in revenues by more than five times in the coming five years.
The company is in talks with various banks and financial institutions for funding the debt portion of the Rs 35,000 crore investments.
The new project would be funded at a debt and equity ratio of 80:20.
The company is spreading its operations overseas and is hopeful of winning power projects in Bangladesh, Indonesia and in the Middle-East.
Lanco has also dropped plans to bid for assets of Australia’s Premier Coal, Rao said.