Lanco bags 2 power projects in UP, to invest Rs 14,000 cr

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New Delhi, Apr 11 (UNI) LANCO Infratech Ltd (LITL) today said it has won two thermal power projects with an installed capacity of 3,300 MW in Uttar Pradesh entailing an investment of Rs 14,000 crore.

''The Group needs to invest around Rs 14,000 crore for developing the two projects in Uttar Pradesh,'' company's Chairman L Madhusudhan Rao said.

The projects include all the required infrastructure linkages like road, water, fuel and rail, he added.

Outbidding the other top players like Reliance Power, NTPC and Jindal Steel&Power, LITL has won both the projects -- Prayagraj Power Project with a quote of Rs 2.88 per unit, and Sangam Power Project with a quote of Rs 2.838 per unit.

With the addition of the two projects, LANCO would now have a total capacity of around 13,000 MW, covering both operational and those under implementation and development, Mr Rao said.

For the Prayagraj Power Project, the second lowest bidder was Reliance Power with a quote of Rs 2.94 per unit, followed by NTPC's Rs 3.44 and Jindal Steel&Power's Rs 3.591.

And for the Sangam Power Project, for which five players were in the fray such as LITL, Reliance Power, JSW, Jindal Steel&Power and RPG, Reliance Power emerged as the second lowest bidder with a quote price of Rs 3.051, CESE's Rs 3.389, JSPL's Rs 3.51 and JSW's Rs 3.545.

The bids, called by the Uttar Pradesh Government for development of the two thermal power projects- Prayagraj of 1,980 MW (3x660 MW) and Sangam of 1,320 MW (2x660 MW), were opened today at the Office of Uttar Pradesh Power Corporation Ltd which conducted the competitive bidding process on behalf of the government, said a statement.

As per the terms of the bids, while 90 per cent of power generated through the projects must be sold to the Government of Uttar Pradesh, the remaining 10 per cent could be sold by the successful bidder through the merchant market.

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