Business Line reported that Lanco Infratech Ltd has entered into a MoU with the China Development Bank, a bank owned by the Government of Peoples Republic of China.
The MoU is to raise USD 2 billion debt for 2 power projects Anpara Phase II and Himawat each having a capacity of 2x660 MW with supercritical boiler technology.
Out of the total amount of USD 2 billion required to be raised, USD 600 million will be contributed by CDB and CDB will syndicate the balance from Chinese banks and FIs.
Lanco has an operating capacity of 4,740 MW with another 4,636 MW under various stages of execution. This includes projects based on coal, gas, hydro, solar and wind.
The company has a target of holding 13,000 MW operating capacity by 2015. The company has an EPC order book of INR 28,500 crore.
Mr K Raja Gopal CEO of Lanco Power signed the MoU on behalf of Lanco and Zheng Zhijie, Governor of CDB, signed on behalf of CDB.
