Gujarat Industries Power Company (GIPCL) has cancelled the Letters of Intent (LOIs) for EPC Contracts dated June 01, 2013 issued to Lanco Infratech (LITL) in respect of implementation of 2 x 300 MW Lignite based Expansion Power Project.
The company has cancelled LOIs due to the inability on the part of LITL to furnish the required 10% Contract Performance Bank Guarantee as per the stipulated time period and thus committing breach and violation of the EPC Tender Conditions.
Gujarat Industries Power Company, incorporated in 1985, is engaged in business of power generation. The company is also engaged in conducting research and development operations such as identification
