Lanco Infratech plans to list power arm in next 2 years

NEW DELHI: Lanco Infratech plans to list its power arm within the next two years, company executive chairman L Madhusudan Rao said. The group has identified five business areas – power, solar, engineering and construction, natural resources and infrastructure.

“As individual business verticals achieve significant size and scale over a period of time, we see each of these developing into distinct independent listed entities,” Rao told mediapersons at a conference to unveil the company’s new logo.

He said power business would be the first to be listed on stock exchanges.

Rao said the company was looking for opportunities to acquire power projects in Bangaldesh, Indonesia and Middle East. The company has recently acquired Griffin Coal mine in Australia and is scouting for more coal assets in Indonesia, South Africa, Australia and India.

Lanco has an installed capacity base is 3,300 mw, Rao said. Another 6,000-mw projects were at advanced stage of completion. The company plans to invest Rs 32,250 crore to develop another 6,000 mw of identified projects. It targets a power generation capacity of 15,000 mw by 2015. The company plans to ramp up its employee base to 20,000 individuals by 2015 from the present workforce of 7,000.