Lanco Infratech to set up a 1,320 mw plant in Orissa
Hyderabad-based Lanco Infratech has firmed up plans to set up a 1,320 mw power plant in Orissa at an investment of nearly Rs 5,000 crore. It is also planning to enter power distribution.
By TNN |
KOLKATA: Hyderabad-based Lanco Infratech has firmed up plans to set up a 1,320 mw power plant in Orissa at an investment of nearly Rs 5,000 crore. It is also planning to enter power distribution.
The Lanco group has interests in power generation, construction and property development. The group comprises 18 entities, several of which are special purpose vehicles set up to implement its proposed power and real estate projects. Lanco Infratech is the group flagship.
"The proposed plant will have two units of 660 mw each. Lanco Infratech is mulling the possibility of locating it in Talcher. Cost of power generation is likely to be in Rs 2.30-Rs 2.40 per unit range," said Mr D.V. Rao, joint managing director of the Lanco Group. He was talking to reporters here on Friday.
"We've signed a 25-year power purchase agreement (PPA) with the Orissa government. Under the PPA, the Orissa government, through Power Grid Corporation of India (PGCIL) will buy about 26% of power generated by the plant," said Mr Rao.
In the power sector, the Lanco Group operates plants with a total installed capacity of 518 mw. It is also in various stages of implementing an additional 3,275 mw of generation capacity by calender 2010. These include a 600 mw coal-fired plant in Chattisgarh, two 1000 mw thermal plants -- one each in Karnataka and Uttar Pradesh -- and a 500 mw hydel station in Sikkim.
"Lanco Infratech has decided to enter the transmission and distribution (T&D) business. To this effect, it recently bid for a Rs 2,500 crore project for installing 1,500 km of T&D infrastructure for PowerGrid in Gujarat and Maharashtra," said Mr Rao.
"We are competing with seven to eight larger power and engineering companies. The project cost is likely to be nearly Rs 2,500 crore, the technical evaluation for which is complete. Financial bids will be evaluated this December," he added.
In the property development space, Lanco is in the process of developing approximately 19.5 million square feet of saleable area, comprising a 100 acre integrated IT park & township and a 21.8-acre residential development, both located in Hyderabad.
It is developing an IT Park and township on a 10.7 acre plot on which it proposes to develop 2 million sq ft saleable area in Vizag.
The Lanco group has interests in power generation, construction and property development. The group comprises 18 entities, several of which are special purpose vehicles set up to implement its proposed power and real estate projects. Lanco Infratech is the group flagship.
"The proposed plant will have two units of 660 mw each. Lanco Infratech is mulling the possibility of locating it in Talcher. Cost of power generation is likely to be in Rs 2.30-Rs 2.40 per unit range," said Mr D.V. Rao, joint managing director of the Lanco Group. He was talking to reporters here on Friday.
"We've signed a 25-year power purchase agreement (PPA) with the Orissa government. Under the PPA, the Orissa government, through Power Grid Corporation of India (PGCIL) will buy about 26% of power generated by the plant," said Mr Rao.
In the power sector, the Lanco Group operates plants with a total installed capacity of 518 mw. It is also in various stages of implementing an additional 3,275 mw of generation capacity by calender 2010. These include a 600 mw coal-fired plant in Chattisgarh, two 1000 mw thermal plants -- one each in Karnataka and Uttar Pradesh -- and a 500 mw hydel station in Sikkim.
"Lanco Infratech has decided to enter the transmission and distribution (T&D) business. To this effect, it recently bid for a Rs 2,500 crore project for installing 1,500 km of T&D infrastructure for PowerGrid in Gujarat and Maharashtra," said Mr Rao.
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"We are competing with seven to eight larger power and engineering companies. The project cost is likely to be nearly Rs 2,500 crore, the technical evaluation for which is complete. Financial bids will be evaluated this December," he added.
In the property development space, Lanco is in the process of developing approximately 19.5 million square feet of saleable area, comprising a 100 acre integrated IT park & township and a 21.8-acre residential development, both located in Hyderabad.
It is developing an IT Park and township on a 10.7 acre plot on which it proposes to develop 2 million sq ft saleable area in Vizag.
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