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Lanco to invest Rs 22,000 cr in 3 thermal projects

Press Trust of India  |  New Delhi 

Lanco Infratech plans to install nearly 4,000 MW additional thermal power generation capacity, entailing investments of about Rs 22,000 crore by March 2015.

The diversified group currently has an installed power generation capacity of 4,400 MW.

"We are planning to have additional thermal power capacity of about 4,000 MW by March 2015. The total investment would be around Rs 22,000 crore," Lanco Infratech CEO (Thermal) K Rajagopal told PTI.

The company is developing three projects, each have a capacity of 1,320 MW.

According to Rajagopal, these plants along with some hydro projects would take the company's total power generation capacity to more than 9,000 MW.

The thermal initiatives under development are unit III and IV Amarkantak in Chattisgarh, Vidarbha in Maharashtra and Babandh in Orissa.

State-run Coal India's recent decision to ink fuel supply pacts for power projects would benefit Lanco's three projects under development.

Meanwhile, Lanco is planning to raise up to $750 million in the next six months for its power business.

Lanco, which has presence in various sectors, including EPC, power and and infrastructure, saw its consolidated net profit slide 63% to Rs 60.92 crore in the three months ended December 2011.

First Published: Sun, February 19 2012. 13:05 IST