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| Lanco Infratech sells bio-mass power arm to Agri Gold Projects |
| BS Reporter / Hyderabad Apr 22, 2009, 12:47 IST |
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Lanco Infratech Limited, the flagship company of Hyderabad-based Lanco Group, has transferred the ownership, management and control of its subsidiary Rithwik Energy Systems Limited, which has a 6 Mw biomass-based power project in Chittoor district of Andhra Pradesh, to Agri Gold Projects Limited.
The possession of the property, operations and business of the power plant of Rithwik Energy Systems was handed over by the company to Agri Gold conclusively with effect from April 1, 2009, Lanco Infratech said in a filing to the BSE on Wednesday.
Clarion Power Corporation Limited, another subsidiary of Lanco, which has a 12 Mw non-conventional power project using biomass as fuel in Prakasam district of Andhra Pradesh, was also acquired by Agri Gold Projects. The subsidiary’s property, operations and business were handed over to Agri Gold on April 1, 2009.
The scrip of Lanco Infratech is currently trading at Rs 216.90 on the BSE on Wednesday, down 1.18 per cent, as against the previous close of Rs 219.50.
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