Wednesday, May 21, 2008

Lanco in revamp mode

Mumbai, May 20: Lanco Infratech is in the process of forming a holding company to bring all its power projects under one roof.

“We have appointed PricewaterhouseCoopers for restructuring the power business. They are working on that. A report from them is expected in a month,” Lanco managing director Venkatesh Babu said.

Lanco Infratech has a 600MW portfolio now, which, according to Babu, will double this year.
The company aims to generate 13,000 MW by 2013.

“We have already received financial closure for 6,000MW,” Babu said.

Asked whether the holding company would be listed on the domestic bourses, Babu said it could wait since the company had enough funds to carry out projects for another one-and-a-half years.
“After that, we may look at listing the firm, but that is not going to happen before the first or second quarter of the next fiscal,” he added.

Babu said Lanco was on the lookout for coal mines abroad, but nothing had been finalised so far.
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