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Construction : Deals | August 2014 | Source : Construction Update

Lanco Infratech Sells Udupi Thermal Power plant to Adani Power

Lanco Infratech Ltd has sold a 1,200-megawatt (MW) Udupi Thermal Power plant in the southern state of Karnataka to Adani Power Ltd. The deal is valued at more than Rs 6000 crore. The company will use the proceeds to retire a part of its consolidated debt of around Rs 35,000 crore.The Lanco Udpi Power plant has already signed with the Karnataka Government for further expansion of 1,320 MW, which the Adani Group can take up, subject to securing fuel linkages.
 
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