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Lanco Infratech Ltd today announced it has bagged its first international order from Iraq to set up a 2x125 MW AKAZ power plant in Al-Anbar province.
The project worth Rs 365.28 crore (about $81.3 million) is scheduled to be completed within 16 months. A dedicated project team has been identified and put in place.
The scope of work includes complete engineering, procurement and construction (EPC) of an open cycle gas-based power plant with two gas turbine generators supplied by General Electric International, Inc.
Mr S.C. Manocha, Chief Executive Officer of EPC Division of Lanco Infratech, said: “The company plans to increase its EPC business for third parties. This is something which the company started last fiscal. In its first year, it secured contracts worth Rs 6,000 crore amounting to 20 per cent of the company's business of Rs 30,900 crore as of March 31, 2011.”
Mr Minocha told Business Line that the company's business mix is likely to undergo change due to growing focus on EPC contracts from within the country and also from overseas contracts, the latter likely to play a larger role over the next few quarters. The overseas contracts will come from Bangladesh, Indonesia and West Asia.
Of the EPC order book, about Rs 24,000 crore is from within the company. Last year, the company bagged three important third party EPC orders including work for 1,200 MW power project of Moser Baer, balance of plant (BoP) order from Mahagenco for its 1,980 MW plant near Nagpur and a contract for 75 MW solar EPC order from Mahagenco.”
The company shares closed the day's trade marginally down at Rs 27.55 on the BSE.
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