Home News Industry News Lanco Infratech to sell Australian coal and Indian road assets

    Lanco Infratech to sell Australian coal and Indian road assets

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    Cash strapped infrastructure major Lanco Infratech planning to sell its Australian coal and Indian road assets to pare debt as well as make equity investments in domestic power projects. Lanco, which raised Rs 6,650 crore after selling a couple of power projects to Greenko and Adani and plans to sell more power stations worth Rs 20,000 crore, however, plans to infuse funds to improve valuations of the coal and road assets before putting them on the block. This is the first time that a Lanco official has gone on record on plans to sell its Australian coal asset, Griffin Coal. It had plans to ramp up capacity to 15 million tonne a year in phases by investing around US$1 billion. Lanco recently obtained environmental clearances for developing a new berth at Bunbury port for export of coal from Griffin.

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