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Lanco Infratech seeks restructuring of Rs 1,000 crore loan of AP power plants

23 Feb 2015 Evaluate

Cash-starved Lanco Infratech has approached lenders to reschedule Rs 1,000 crore debt of two of its gas-based power plants in Andhra Pradesh (AP) till January 2018. The infra major has also sought similar reprieve from lenders for some of its power plants under Reserve Bank of India’s (RBI) 5/25 formula.

Moreover, the consortium of lenders led by Axis Bank is likely to give nod for the restructuring of loan for the two plants in a few days.

Lanco Kondapalli Power (LKPL) operates three gas-based power plants in Andhra Pradesh. Two plants - Unit-II and III - are not able to operate due to lack of gas supplies from KG-Basin. Unit-III is yet to declare Commercial Operation Date.

Lanco Infratech is the leading integrated infrastructure conglomerate with global footprints having business verticals viz. EPC, Power, Solar, Natural Resources and Infrastructure.

Peers
Company Name CMP
Larsen & Toubro 4094.95
Rail Vikas Nigam 303.10
NCC 161.30
KEC International 580.10
Kalpataru Projects 1232.90
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