LANCO outbids Reliance, Essar to bag Anpara 1000 MW power project

Hyderabad, Jun 6 (UNI) The Hyderabad-based LANCO Group has outbid Reliance Energy and Essar Group to bag India's first tariff based competitive bidding for the 1000 MW thermal power project at anpara in Uttara Pradesh.

With the addition of the Anpara project, Lanco had emerged as the largest Independent power developer in the country. The company already had over 500 MW operating capacity and over over 3000 MW at various stages of development, a company release here tonight said.

Mr Madhusudan Rao, Chairman of the Lanco Group, said ''we are extremely pleased to win the Anpara power project. We are confident of completing the project in time as we realize the importance of this project for the state in meeting its power needs''.

Amongst the significant new contracts signed by Lanco Group are the three hydro electric power project in Uttaranchal. It also picked up a 74 per cent stake in the 1015 MW Nagarjuna power project being set up in Mangalore, Karnataka, it said.

The Karnataka power project would be the first indenpendent Power Project in the country to operate an imported coal while the Uttaranchal power projects would be the country's first to market energy on a merchant basis, it added.

UNI SM VV SSI2020