Lanco Infratech, which owns Australia-based Griffin Coal, will "seriously" look for equity dilution in the subsidiary after some factors such as appreciating Australian dollar and falling coal prices are settled, sources close to the development
Diversified group Lanco Infratech plans to invest around 1 billion Australian dollars (AUD) to increase the annual production capacity of Australia-based Griffin Coal to 16 million tonne.
Gurgaon-based infrastructure major Lanco Infratech Ltd said its Australian subsidiary, Griffin Coal, have settled a $3.5-billion lawsuit filed by Perdaman Chemicals & Fertilisers over coal supply issues.
Lanco Infratech relied heavily on debt for an aggressive growth path. The move seems to be backfiring. The 70-fold jump in turnover in last six years was a heady growth, but it was fuelled by a 223-fold jump in the debt during same period.
Power generator, Lanco Infratech gained over 2% at Rs 12.10 on news that the company has reached out to its Malaysian partner, Genting, to buy stake in three of its power plants.
Faced with difficult market conditions, diversified group Lanco Infratech has trimmed its workforce by about 1,400 people in the last 14 months, a senior company official said today.
Diversified group Lanco Infratech has said there is no "great possibility" of an out-of-court settlement in the AUD 3.5 billion legal battle with Australia's Perdaman Industries.
Lanco Infratech, an integrated infrastructure conglomerate with a global footprint, on Monday said the supreme court of Western Australia had given its judgement in favour of Lanco, and had allowed Griffin Coal Mining Company Pty (GCMC), its subsidiary,
Lanco Infratech Limited (LITL), an integrated infrastructure conglomerate with global footprints, today said that the Supreme Court of Western Australia has given its judgement in favour of Lanco and has allowed the Griffin Coal Mining Company Pty Ltd
Lanco Infratech has rallied 7% to Rs 13.40 after the company said that Supreme Court of Western Australia has allowed the Griffin Coal Mining Company Pty Limited (GCMC), a subsidiary of company to enter into revised Coal Supply Agreement (CSA) with
Determining the terms agreeable to both the parties is going to be an issue as the supply agreements of natural gas from the K-G Basin is only up to April, 2014. Besides, there is a huge cut in natural gas supply to power projects owing to a decline in
Lanco Infratech would now be able to supply 300 MW of power to the distribution companies in Madhya Pradesh as the company has reached an agreement with them over purchase agreement.
Gurgaon-based infrastructure major Lanco Infratech Ltd said it started supplying 300 Megawatt (Mw) power to local consumers from its 600 Mw Amarkantak plant located in Korba district in Chattisgarh.
Lanco Hills, a mixed development project of the diversified Lanco group, announced the launch of phase one of ‘The Mega Mall’, being constructed at a cost of Rs 500 crore here.
Diversified group Lanco Infratech on Saturday reported a consolidated loss of Rs 136 crore for the September quarter, hurt by fuel shortages for power projects.
Diversified group Lanco Infratech today reported a consolidated net loss of Rs 135.93 crore for the three months ended September, as the entity continued to grapple with fuel shortages for its power projects.
After prolonged litigation, Lanco Infratech will be entering into a fresh agreement with the Madhya Pradesh government for supply of the entire 300 Mw power from its Korba power plant in Chattisgarh.
Lanco Infratech is engaged in talks with private equity firms Bain Capital and Kohlberg Kravis Roberts (KKR) to sell stake in its power business. Lanco has been trying to find a buyer for its power business since the beginning of the year.
