Lanco Infratech achieves financial closure for 732 MW project

Lanco Infratech, an Indian infrastructure group, Tuesday said its subsidiary Lanco Kondapalli Power Private Limited has achieved financial closure for its 732 megawatt gas-based power project in Andhra Pradesh.

“The project, estimated to cost Rs.2,610 crore, would be financed with a debt of Rs.1,827 crore and an equity of Rs.783 crore,” the company said in a regulatory filing.

A consortium of six banks and financial institutions with Axis bank in the lead is providing the debt required for the project.

At the Bombay Stock Exchange, the shares of the company were down 0.89 percent to trade at Rs.55.50.