Business News

Published: Wednesday February 20, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 12:40:46 AM

India's Lanco Infratech keen to sell 3 power plants to Genting

KUALA LUMPUR: India's independent power producer (IPP) is reported to be keen to sell stakes in its three coal-fired power plants to Genting Bhd which are operating a total 3,240 MW.

A news report by Business Standard of India on Wednesday said the stakes were for the Amarkantak, Baband and Anpara plants.

The report said the 1,200 MW Anpara power project is in Uttar Pradesh and is currently generating power.

The Amarkantak plant in Chhattisgarh is operating 600 MW. It has plans to set up another 1,320 MW at the same site. The third power plant is at Baband in Orissa and is generating 1,320 MW.

Business Standard said the move comes after Lanco was unable to sell stake of its power business to private equity players. Ever since, it has been looking to sell power projects to buyers to raise equity.

Genting has a 35% stake in Lanco's gas-fired Kondapalli power plant. Genting also holds stake in Aban Power Company, which has a power plant in Tamil Nadu.

Tags / Keywords: News, Business, India's independent power producer, sell stakes in its three coal-fired power plants, Genting Bhd, Business

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