Lanco Infra bags Rs 365 cr order in Iraq

City-based integrated infrastructure enterprise, Lanco Infratech Limited, has won an order worth Rs 365.28 crore (approximately $81.3 million) in Iraq, its first international EPC (engineering, procurement and construction) contract, for AKAZ power plant of 2X125 MW capacity in Al-Anbar province.

The scope of the work includes complete EPC of an open cycle, gas-based thermal power plant with two frame gas turbine generator sets supplied by General Electric International Inc. The project is scheduled to be completed in 16 months for which a dedicated team has already been identified and put in place.

With this, the order backlog of the Lanco Infratech Limited group, on a consolidated basis, stands at Rs 30,900 crore. This is the total value of unexecuted orders as of March 31, 2011 and new orders received till date.

“This (Iraq order) is a major milestone for us as it is in line with our strategy to win external contracts. It is worthwhile to mention that during last fiscal, we have been actively bidding for new external contracts and have procured 1,200 MW thermal EPC order from Moser Baer Group Company, BoP (build, operate, place) order from Mahagenco for their 1,980Mw Koradi thermal power plant near Nagpur and also 75 MW solar EPC order from Mahagenco to name a few,” L Madhusudhan Rao, executive chairman of Lanco Infratech, said in a filing to the BSE on Tuesday.

Lanco Infratech’s scrip is currently trading at Rs 28 on the BSE, up 1.08%, over the previous close of Rs 27.70.