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.
