- Revenues of Lanco Amarkantak to double to around Rs 1200 crore and Increase EBITDA by around Rs.200 crores for full year of operations

- Will have a positive impact on overall financials of Lanco Group

Editor’s Synopsis –

• Lanco Amarkantak Power Limited (LAPL) a step down subsidiary of Lanco Infratech limited (LITL) starts power supply to Haryana Discoms

• Recently in September 2015, LAPL got a favourable order from the Hon’ble Supreme court directing the South Eastern Coalfields Ltd. to supply coal to the 300 MW Lanco Amarkantak unit II treating it as an unit having a subsisting long term PPA

• Entire 1800 MW operating coal based power portfolio of Lanco is now utilised to its full capacity with fuel pass through

• LAPL on September 24, 2015 executed the documentation for flexible refinancing with its Lenders for 2 x 300 MW Unit 1 & 2. LAPL has also completed the documentation for the cost overrun financial closure of its 2 x 660 MW expansion project

Lanco Infratech Limited (LITL), one of India’s leading business conglomerate having businesses in the domains of Engineering, Procurement and Construction (EPC), Power, Solar, Natural Resources and Infrastructure today announced commencement of power supply to Haryana Discoms from its domestic coal based 300 MW Unit # 2 of Lanco Amarkantak Power Limited (LAPL), Chhattisgarh.

With the commencement of power supply to Haryana Discoms at regulated tariff from this pithead plant, the entire 1800 MW operating coal based power portfolio of Lanco is now utilised to its full capacity with fuel pass through.

Commenting on this momentous occasion, Mr. L Madhusudhan Rao, Chairman, Lanco Infratech Limited, said,

“As there is always light at the end of the tunnel, the current fiscal is very good and path breaking for us, we reported a profit after 12 consecutive quarters of losses, a turnaround which was made possible by a noteworthy spurt in EPC revenues and favourable regulatory orders. The resumption of Power supply to Haryana Discoms is going to be profit assertive for us in the coming quarters as it will double the revenues of Lanco Amarkantak to around Rs 1200 crore and increase EBITDA by around Rs.200 crores for full year of operations, and will also have a positive impact on overall financials of Lanco Group.”

LAPL, has recently got a favourable order from the Hon’ble Supreme court directing the South Eastern Coalfields Ltd. to supply coal to the 300 MW Lanco Amarkantak unit II treating it as a unit having a subsisting long term PPA. LAPL on September 24, 2015 has executed the documentation for flexible refinancing with its Lenders for 2 x 300 MW Unit 1 & 2. LAPL has also completed the documentation for the cost overrun financial closure of its 2 x 660 MW expansion project. The court also ordered Power Grid Corporation to provide transmission corridor to this project.

About Lanco Infratech Limited

As one of India's leading business entities, Lanco Infratech Limited has been driving growth in the domains of Engineering, Procurement and Construction (EPC), Power, Solar, Natural Resources and Infrastructure over the last two-and-a-half decades. Its continuous focus on innovation and expansion together with its commitment to quality and excellence has contributed significantly to the progress that the company has made over a short span of time. The current power portfolio of Lanco has capacities of 3,460 MW under operation and 4636 MW under construction. The Group’s current employee strength is approximately 3,800.