Lanco Infratech Limited on Monday assured its shareholders it expects to capitalise on the growth opportunities unfolding over the next few years in the infrastructure sector and power sector in particular.
Addressing the company’s 22{+n}{+d} Annual General Meeting here today, L Madhusudhan Rao, Executive Vice Chairman of Lanco Infratech, said “With an operating power portfolio of 3460 MW spanning coal, gas, hydro and solar, under construction power projects of 4636 MW and an EPC order book (including power and solar projects) of Rs. 28,158 crore, the company sees a better future ahead.”
The company recently secured Lenders’ approval of cost overrun proposals for four of its under construction projects which include the coal-based Amarkantak Phase II, Babandh and Vidarbha power projects each of 1320 MW capacity, and the 76 MW Mandakini hydro power project, with total investment of Rs. 33,000 crore.
“These are significant developments giving clear visibility to the completion of these projects and also to the EPC revenues. With the commissioning of these plants, the Company will have a consolidated operating power capacity of around 8000 MW by FY 2018,” he said.
“Although the next 18-24 months will be challenging, Lanco is confident that with the measures the Company is taking at each project level with the support of the Lenders,” he said.
The company has an EPC order book of Rs 28,063 crore. During the year, the Company commenced execution of the EPC Contract awarded by Tamil Nadu Generation and Distribution Corporation Limited for the 660 MW Super Critical Ennore Thermal Power Station Expansion Project.
Referring to the Australian mine, Griffin, he said during 2014-15 coal output was 2.39 MT with sales of 2.44 MT. Revenues for the full year was Rs 546 crore. The capacity enhancement programme for increasing the capacity from present to 15 MTPA is in plan approval stage. The Tasra Opencast Coal Mine Development and Operations project is in the development stage.