New Delhi, June 21, 2011 (PTI)
The Hindu Executive Chairman, Lanco Infratech L. Madhusudhan Rao with G. Bhaskara Rao, Executive Vice-Chairman during a launch event in New Delhi. Photo: Kamal Narang
Infrastructure major Lanco Infratech on Tuesday said it has made a foray into the international engineering, procurement and construction (EPC) arena by bagging a $81.3 million (about Rs 365.28 crore) order in Iraq for a power plant.
"Lanco Infratech Limited (LITL)... EPC division has achieved another major milestone by winning its first international EPC order in Iraq for AKAZ power plant of capacity 2x125 MW in Al-Anbar Province," the company said in a statement.
The scope of work includes complete engineering, procurement and construction (EPC) of an open cycle, gas-based thermal power plant and is scheduled to be completed in 16 months.
Commenting on contract, LITL Executive Chairman L. Madhusudhan Rao said, "This is a major milestone for us as it is in line with our strategy to win external contracts...
during last fiscal, we have been actively bidding for new external contracts and have procured 1,200-MW thermal EPC order from Moser Baer Group Company."
The group's EPC Division CEO, S.C. Manocha, said apart from Iraq, the company will be focusing on Indonesia, Bangladesh and the Middle East for EPC contracts as there is tremendous scope.
"The company is eyeing on contracts ranging from USD 100 million to USD 1 billion," he said, adding that the company plans to make a foray into Africa too.
With the contract in Iraq, the order backlog for the LITL group on a consolidated basis stands at Rs 30,900 crore.
Lanco is an infrastructure conglomerate and at present, its power portfolio includes an installed capacity of 3,292 MW.
News From: http://www.7StarNews.com
Tuesday, June 21, 2011
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