Lanco plans selling more assets

After completing the transaction of selling its Udupi plant to Adani Power for Rs 6,300 crore, Lanco Infratech today said it will look at selling more assets in the future in order to strengthen its core infrastructure business.
"Lanco Infratech announced that it has completed the sell-off of its Udupi power plant to Adani Power," the company said in a statement.
It added, "Lanco Infratech has laid out a plan whereby it will look at more such strategic sell-offs like Udupi to streamline its operations and strengthen the core of its business.
Lanco said that the enterprise value of the Udupi plant deal, which is part of its debt restructuring plan, is Rs 6,300 crore. The transaction was announced in August 2014.

The 1,200 MW Udupi project in Karnataka is based on imported coal.
The deal helped Lanco to reduce its debt position - long-term and short term debt now at Rs 4,275 crore and Rs 2,147 respectively.

The current EPC (engineering, procurement and construction) order book is Rs 29,463 crore.
Lanco has 3,450 MW projects operating across the country and 4,636 MW is under construction at various stages.
They have around 7,000 MW capacities under development and some of these assets have coal blocks and 100 per cent regulated tariff, the statement added.