Lanco Infratech has reportedly proposed to sell assets worth Rs 7,612 crore. The company is looking to sell 3 power projects for Rs 6,350 crore and road projects for Rs 668 crore. Further, the company will sell 1 solar and 1 real estate project.
Recently, in a major relief to cash-strapped Lanco Infratech, a consortium of lenders, headed by IDBI Bank, approved a corporate debt restructuring (CDR) package for the holding company. The decision to clear the Rs 7,000-crore CDR package and release Rs 3,500 crore towards working capital will enable the company to resume EPC (engineering, procurement and construction) operations, which were hit by a cash crunch.
Lanco Infratech is the leading integrated infrastructure conglomerate with global footprints having business verticals viz. EPC, Power, Solar, Natural Resources and Infrastructure.
