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LANCO sells it’s Assets

LANCO Group wants to come out from financial debts in maintenance of its Power Projects in the country. Reportedly, LANCO has pay more attention on reduction of its debts for around 15K crores. LANCO has announced to sell 3K MW Power Projects to procure 5K crores. Recently, LANCO sold out 1200 MW Udipi Thermal Plant to Adani Group and made an agreement with Adani group. As per buzz, the sale deed between Adani and LANCO come to around 6K crores and LANCO predicts to save 925 crores after clearing all its debts. LANCO is doing its operations in Infra, Construction and Power fields. Group has loans and debts around 49K crores. It will be difficult for LANCO group to pay monthly Interests on taking loans. Company feels that there is less difference between income and expenditure. As per LANCO Annual Reports, group has 4647 MW capacity of Power Projects and another 4636 MW capacity of Power Projects are in progress. There are 21K crores of worth of orders in LANCO hand. Company has borrowed loans from 47 financial institutions and Banks. They also intend to set-right Company financial position.

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