LEUL bags tender for sale of DVC power

Hyderabad, Apr 9 (UNI) The LANCO Group, a diversified conglomerate with expertise in power generation and distribution, has announced that its power trading arm, LANCO Electric Utility Ltd (LEUL) has successfully bagged the tender for sale of Damodar Valley Corporation's (DVC) power.

LEUL had already commenced supplies to Punjab, Uttar Pradesh and the Tata Power Company Ltd from April one 2007.

LEUL won the tender to trade the DVC power of 50 mw with an option to trade up to 200 mw on availability basis through the competitive bidding route, outbidding other major power traders. LEUL achieved a phenomenal sales turnover of more than Rs 325 crore by trading about 740 mu of energy, in the first year of its full operation.

Reacting to the development, LANCO Chairman L Madhusudhan Rao said "we are pleased that DVC has shown confidence in LEUL core competencies. LEUL is a power trading arm of the Lanco group and is now recognised as a serious player amongst its peers in power trading. Our experience in the domain of power generation and distribution gives us an edge over competition. LANCO is always known to generate and distribute power at the most competitive rates. Both government and private companies have been giving us challenging and complex assignment as we are known for our timely execution and delivering quality work".

UNI