Economy

Lanco Infratech gets financial closure for Kondapalli power project

PTI New Delhi | Updated on November 12, 2017 Published on January 11, 2011

Lanco Infratech on Tuesday said its subsidiary Lanco Kondapalli Power Private Limited has arranged finances for its 732 MW gas-based power project in Andhra Pradesh.

“Lanco Kondapalli Power Private Limited (LKPPL) has achieved financial closure and the Project, estimated to cost Rs 2,610 crore, would be financed with a debt of Rs 1,827 crore and an equity of Rs 783 crore,” Lanco Infratech said in a filing to the Bombay Stock Exchange.

A consortium of six banks and financial institutions, led by Axis Bank are providing the debt required for the project, the filing added. Currently, Lanco Kondapalli Power is in the third phase of its expansion, for which necessary regulatory clearances including environment have been obtained.

After completion of the Phase-III, the power generating capacity of the company would be around 1,500 MW.

Shares of Lanco Infra were trading today at Rs 55.05 apiece on the Bombay Stock Exchange at 13.30 hours, down 1.70 per cent from the previous close.

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Published on January 11, 2011
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