Lanco Infratech Ltd Company Summary

Lanco Infratech Ltd Summary

Lanco Infratech Limited (LIL), a construction and infrastructure development company was incorporated in 26th March of the year 1993 as Lanco Constructions Limited at Andhra Pradesh. The company engaging in construction development sector including the execution of various civil contract works and also had involvement in power sector through its group entities. The Divisions of the company are Roads, Airports and Seaports. The Company was allotted the Kondapalli Project in the year 1996. After a year, in 1997, Lanco signed the Power Purchase Agreement and received the NEDCAP approval for setting up the Clarion Power Plant. During the year 1998, the company had sets up the casting unit of Lanco Kalahasti Castings Limited. LIL had Commissioned the 368.144 MW plant of Lanco Kondapalli in the year 2000 and received the NEDCAP approval for set up 6 MW biomass based plant for Rithwik. As at 24th November 2000 the Company name was changed to Lanco Infratech Limited. LIL had converted its LKPPL as a natural gas run plant in the year 2001. During the year 2002, the company had commissioned the Chitradurga Power Plant, executed the PPA between Rithwik and APCC in relation to the Rithwik Power Plant and also in the same year started the Rithwik Power Plant. In the identical year of 2002, the companys Lanco Kondapalli received the Leadership and Excellence Award under Safety, Health and Environment from CII for water conservation and reduction in effluent discharge. In the year 2004, the company won the bid for set up the 70 MW Budhil Hydro Electric Project at Chamba, Himachal Pradesh. Lanco got the bid for the development of an Information Technology Park at Manikonda in Hyderabad and Vizag in the year 2005 and also in the same year, the company executed the implementation agreement in relation to the Baner-III Project and the IKUII Project. In 2006, the company registered its Rithwik as a Clean Development Mechanism. During the year 2007, LIL had entered into a Memorandum of Understanding with Gulftainer Company Ltd, UAE to co-operate on a variety of port and transportation projects. During November of the year 2007, the company received an order of Rs 672.4 million from Central Power Distribution Company of Andhra Pradesh for supplying and erecting 33/11 KV Substations and 33/11 KV Lines in the five districts of Mahabubnagar, Kurnool, Nalgonda, Medak and Ananthapur in the state of Andhra Pradesh. Lanco Infratech received a letter of acceptance (LOA) in December of the year 2007 for procurement of civil works on Chabi-Shahpura-Umaria road project worth Rs 1.01 billion in the State of Madhya Pradesh from Madhya Pradesh Road Development Corporation (MPRDC), Bhopal. As at February 2008, the company tied up with State Bank of India (SBI) for part funding its Rs 13,480 million road projects in Karnataka. LIL secured two super critical power projects during April of the year 2008 with an installed capacity of 3,300 MW in Uttar Pradesh. Lanco Infratech consortium emerged as the winner for development of the Rs 80 billion (USD 2 billion) Vizhinjam International Container Port Project in Kerala during May of the year 2008 and also LANCO has tied-up with Pembinan Radzai Sdn. Bhd (PRSB), Malaysia. The Company plans to foray in Nuclear power generation, for that made talks with European and US based engineering procurement contractors in September of the year 2008. The operating capacity of the company power projects stands at 518 MW and it is planning to increase the number of power projects to generate a total capacity of 15,000 MW by 2015.